Crypto Contest December 8: Synereo

Synereo (AMPUSD) has broken out of the triangle pattern in the daily chart.

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

Elliott Wave Analysis

In Elliott Wave terms, Synereo began a wave one advance on December 27, 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) advance finished on June 22 this year, and the red wave two (blue sub-waves a-b-c) correction ended on September 15. If this wave count is correct, Synereo should be heading next towards the June 22 peak in the red wave three.

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

Looking at the weekly chart, I believe Synereo is currently in the red wave three (blue sub-wave iii). The red wave three began on December 27, 2016.

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

Funnymentals

Synereo is a competitor to Steemit. Here is a short official video of Synereo.

(Source: http://www.synereo.com/)

If you think this analysis is correct, upvote this post and upvote the comment "Synereo will takeout the June 22 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Synereo will drop below the September 15 low".

If you think Synereo is in a range, upvote this post and upvote the comment "Synereo will stay in a trading range between the September 15 low and the June 22 peak until January 8, 2018".

You can upvote the comment until 3 PM EST December 9 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).