Crypto Contest December 22: VeChain
VeChain (Binance: VETBTC) 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, VeChain began a wave one advance on August 14. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on September 4, and the red wave two (blue sub-waves a-b-c) correction ended on December 15. If this wave count is correct, VeChain should be heading next towards the September 4 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model as well as advanced IoT integration, and pioneers in real world applications. Crypto Trends made a video about VeChain two days ago.
(Sources: https://www.vechain.org/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "VeChain will takeout the November peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "VeChain will drop below the December 15 low".
If you think VeChain is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "VeChain will stay in a trading range between the December 15 low and the November peak until January 26, 2019".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST December 25 and you can upvote only one comment. 50% of liquid STEEM + SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
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VeChain will drop below the December 15 low (11 voters as of 3 PM EST December 25: bleujay, sqlinsix, bentleycapital, diana.feuerberg, gregory-f, barbadosso, vicspics, jznsamuel, kunschj, mgood, galasek).
VeChain will stay in a trading range between the December 15 low and the November peak until January 26, 2019 (11 voters as of 3 PM EST December 25: freiheit50, mellofello, votum, allyouneedtoknow, toofasteddie, crokkon, steem-d-anlovnit, diogosantos, richard78624, fullcoverbetting, simonjay).
You won. Paid out from @maarnio1
VeChain will takeout the November peak (5 voters as of 3 PM EST December 25: steemit.nemesis, ace108, bitbrain, reconnectnature, sporttr).
This is a project that I really liked months ago and it might be time again for me to study it once again and maybe invest into VeChain.
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