Crypto Contest October 28: Groestlcoin
Groestlcoin (GRSUSD) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Groestlcoin began a wave one advance on January 12. The wave one finished on February 4, and the wave two correction ended on March 12. The wave three advance finished on July 13, and the wave four correction ended on October 21. If this wave count is correct, Groestlcoin should be heading next towards the July 13 peak in the wave five.
(Chart courtesy of Tradingview.com (log scale))
Looking at the weekly chart, I believe Groestlcoin is currently in the red wave three (blue sub-wave v).
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
According to the Groestlcoin's website one can mine the coin with old laptop:
3. Highly profitable for all miners. You can mine with your old laptop and still turn over a profit which makes GROESTLCOIN really the PEOPLE’S COIN!
(Source: http://www.groestlcoin.org/)
If you think this analysis is correct, upvote this post and upvote the comment "Groestlcoin will takeout the July 13 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Groestlcoin will drop below the October 21 low".
If you think Groestlcoin is in a range, upvote this post and upvote the comment "Groestlcoin will stay in a trading range between the October 21 low and the July 13 peak until November 28".
You can upvote the comment until 3 AM EST October 29 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).
Groestlcoin will takeout the July 13 peak (21 voters as of 3 AM EST October 29: bleujay, bentleycapital, allyouneedtoknow, twinner, flemingfarm, simonjay, gregory-f, glennolua, toofasteddie, komischername, mprgrmmr, crokkon, koskl, digitalking, napkin, amfid4846, thetimetravelerz, heidelbaer, kanoe, incrediblesnow, kryptofan).
I like to do my own analysis first. Viewing that chart linear was a pain. Thanks to your reminder of using the logarithmic scale everything was clear. Came to the same conclusion where the waves are as you did ;)
Yep. Made new highs already.
You won.
Groestlcoin will stay in a trading range between the October 21 low and the July 13 peak until November 28.
Groestlcoin will drop below the October 21 low.
excelent ... thank you ...awaiting for the next one
bravo ... ole ... arsa que toma que dale ... :)
This is one o my preferred coins, always game satisfaction and good earns
It didn't disappoint this time either.