Crypto Contest May 18: Vertcoin

Vertcoin (VTCUSD) 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, Vertcoin began a wave one advance in January 2016. The red wave one finished in April 2016, and the red wave two correction ended in December 2016. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on December 6, 2017, and the red wave four (blue sub-waves a-b-c) correction ended on April 1 this year. If this wave count is correct, Vertcoin should be heading next towards the December 6, 2017 peak in the red wave five.

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

Looking at the monthly chart, I believe Vertcoin is currently in the red wave three (blue sub-wave v). The red wave three began in January 2016.

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

Funnymentals

Vertcoin is an ASIC resistant alternative to Bitcoin and Litecoin. Learn Crypto / Wyckoff SMI published an interview on May 4 covering Vertcoin.

(Sources: https://vertcoin.org/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Vertcoin will takeout the December 6, 2017 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Vertcoin will drop below the April 1 low".

If you think Vertcoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Vertcoin will stay in a trading range between the April 1 low and the December 6, 2017 peak until June 23".

You can upvote the comment until 3 PM EST May 21 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).

Bonus

I will be sending one Trophy Token (@trophy-token) to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.