Crypto Contest May 6: Viacoin
Viacoin has broken out of the wedge pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Viacoin began a wave one advance in June 2016. The wave one finished in October 2016, and the wave two correction ended on March 10 this year. The wave three advance finished on April 19, and the wave four correction ended on May 1. If this wave count is correct, Viacoin should be heading next towards the April 19 peak in the wave five.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Viacoin will takeout the April 19 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Viacoin will drop below the March 10 low".
If you think Viacoin is in a range, upvote this post and upvote the comment "Viacoin will stay in a trading range between the March 10 low and the April 19 peak until June 1".
You can upvote the comment until 3 PM EST May 7 and you can upvote only one comment. 200% of Steem from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.
Viacoin will takeout the April 19 peak (13 voters as of 3 PM EST May 7: bleujay, otisbrown, gregory-f, simonjay, allyouneedtoknow, kooshikoo, yefet, steemquestions, soundmoney, mprgrmmr, jinsu5, dirty.hera, ragnaros).
You won.
Viacoin will stay in a trading range between the March 10 low and the April 19 peak until June 1 (7 voters as of 3 PM EST May 7: twinner, razorwave8, anotherjoe, mirda, fishjojo1, coolthings, eirik).
Three weeks is an eternity is cryptoland, but I think it's going to consolidate for awhile here.
Viacoin will drop below the March 10 low (2 voters as of 3 PM EST May 7: ikilledcobain, starline).
Thank you for posting @maarnio.
Appreciate the opportunity and the winnings.
All the best to you and yours. Cheers.
Thank you bleujay. It is great having you here.
Solid post. Good to see I'm not the only one who thinks like this. The price of a coin should depend on the quality of the product, the team behind it, if proffesional investors believe in it, and a lot more facets. This is quite an interesting website I found: https://www.coincheckup.com The site that lets you check all there is to know about the team, product, communication transparency, advisors and investment statistics on every crypto.