Crypto Contest May 16: MileVerse

MileVerse (Bithumb: MVCKRW) has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, MVC began a red wave one advance on May 6. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on May 9 and the red wave two (blue sub-waves a-b-c) correction ended on May 15. If this wave count is correct, MVC should be heading next towards the May 9 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Zooming out in the line chart, I believe MVC is currently in the red wave five. The red wave one began in November 2020 and the red wave four correction ended on May 6 this year.

(Chart courtesy of CoinMarketCap.com (log scale))

Funnymentals

MileVerse is a mileage exchange/integration payment platform that applies Blockchain technology to build an integrated mileage ecosystem that benefits everyone from corporations and customers to affiliated stores. You can read their whitepaper here.

(Sources: https://mileverse.com/en/)

How Will MileVerse Trade?

MileVerse (Bithumb: MVCKRW) four-hour chart by Tradingview.

(Chart courtesy of Tradingview.com (log scale))

Prizes

I will be giving upvotes to the correct answers with minimum reputation of 25.

Rules

This poll will expire in one week. Only one vote per person.

Which one will happen first?

Please select one of the three choices and comment below.

MVC will takeout the May 9 peak

MVC will drop below the May 6 low

MVC will stay in a trading range between the May 6 low and the May 9 peak until June 22