Crypto Contest November 17: Viacoin
Viacoin has broken the trend line drawn from the October 22 peak.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Viacoin has completed one cycle from the July 29 low. The five wave advance ended on the October 19, and the three wave correction finished on the November 2. If this wave count is correct, Viacoin should be heading next towards the October 19 peak.
(Chart courtesy of Tradingview.com)
Zooming out in the daily chart, Viacoin is currently most likely in the wave three. The wave one started in the December 2015, and ended in the April 2016. The wave two correction finished in the June 2016.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Viacoin.
If you think this analysis is correct, upvote this post and upvote the comment "Viacoin will takeout the October 22 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Viacoin will drop below the November 2 low".
You can upvote the comment until 3 PM EST November 18 and you can upvote only one comment. 100% of Steem (0.274 STEEM) from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
Viacoin will drop below the November 2 low (9 voters as of 3 PM EST November 18: me-tarzan, bleujay, yefet, gregory-f, twinner, landofcrypto, jamesbrown, bradenford, fjccoin).
maarnio thank you for the payouts .
You are welcome.
You won.
Viacoin will takeout the October 22 peak (11 voters as of 3 PM EST November 18: majes, anotherjoe, idnit, michaelcorleone, digit, jdbry, idnit1, mistere, mrfoot, beers, nikflossus).
Thank you for posting and for the opportunity to participate @maarnio.
Thank you for the proceeds from the win...nice surprise.
Thank you for playing again bleujay.