Crypto Contest June 1: Wanchain
Wanchain (WANBTC) 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, Wanchain began a wave one advance on March 29. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 3, and the red wave two (blue sub-waves a-b-c) correction ended on May 28. If this wave count is correct, Wanchain should be heading next towards the May 3 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Wanchain seeks to create a new distributed financial infrastructure, connecting different blockchain networks together to exchange value. NYCryptoTalk published a project review on May 9.
(Sources: https://wanchain.org/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Wanchain will takeout the May 3 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Wanchain will drop below the March 29 low".
If you think Wanchain is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Wanchain will stay in a trading range between the March 29 low and the May 3 peak until July 7".
You can upvote the comment until 3 PM EST June 4 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.
Wanchain will stay in a trading range between the March 29 low and the May 3 peak until July 7 (41 voters as of 3 PM EST June 4: bleujay, gregory-f, skepticology, glennolua, simonjay, soundmoney, positivebalances, allyouneedtoknow, rothberg, steemit.nemesis, misalen, revelationquotes, janine-ariane, costanza, cryptotem, flemingfarm, lucasgabd, komischername, themovieplace, migo25, toofasteddie, diogosantos, koskl, nicolaepavelean, mirda, steem-d-anlovnit, richard78624, portillo, karadere, photoquote, coolthings, galasek, utkarshvarma, ragnaros, mihail.tsvetkov, andy23, mitrado, easymoney202, sljivanono, neo-wiza, cmoljoe).
Wanchain will drop below the March 29 low (6 voters as of 3 PM EST June 4: sqlinsix, freiheit50, mgood, starline, sporttr, nordina).
Wanchain will takeout the May 3 peak (12 voters as of 3 PM EST June 4: lydon.sipe, bxlphabet, crokkon, mister.green, reconnectnature, barbadosso, kunschj, trincowski, carlosdaniel, cosminblaga, stalexmkl, nzl19500).
This is the first ICO I've invested in. It was a long wait... 6 months waiting for the tokens. But in the end, it paid off very well. I have already recovered my investment and still holding hundreds of WAN. I haven't sold everything because I think this initial bull run was just the beginning. 😃
Wanchain is one of my favourite projects for 2018, very bullish on it, but I think it will take some more time until it explodes to the moon.