Crypto Contest November 16: SysCoin
SysCoin has broken out of the wedge pattern in the daily chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe SysCoin has completed one cycle from the May 28 low. The five wave advance finished on the August 22, and the three wave correction ended on the November 11. If this wave count is correct, SysCoin should be heading next towards the August 22 peak.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, SysCoin is currently most likely in the wave three (sub-wave iii). The wave one started in January, and finished in March. The wave two correction ended on the May 28.
(Chart courtesy of Tradingview.com)
In the monthly chart, I believe SysCoin is currently in the wave three. The wave one started in the March 2015, and ended in the May 2015. The wave two correction ended in the January 2016.
(Chart courtesy of Tradingview.com)
My alternative monthly chart shows that SysCoin is already in the wave five.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long SysCoin.
If you think this analysis is correct, upvote this post and upvote the comment "SysCoin will takeout the September 13 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "SysCoin will drop below the November 11 low".
You can upvote the comment until 3 PM EST November 17 and you can upvote only one comment. 100% of Steem (9.906 STEEM) from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
SysCoin will drop below the November 11 low (5 voters as of 3 PM EST November 17: bleujay, yefet, gregory-f, landofcrypto, jamesbrown).
You won.
SysCoin will takeout the September 13 peak (6 voters as of 3 PM EST November 17: twinner, anotherjoe, fccoin, onedozen, fortinbuff, escapeamericanow).
Just looked through some charts. I'm feeling a small pop
Yep. Some Kumo support in the four-hour chart.
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