Cryptocurrencies

Crypto Contest February 28: Bytecoin

Bytecoin (Poloniex: BCNUSD) has broken out of the triangle pattern in the weekly chart.

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

Elliott Wave Analysis

In Elliott Wave terms, Bytecoin began a wave one advance in November 2014. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in January 2018, and the red wave two (blue sub-waves a-b-c) correction ended in December 2018. If this wave count is correct, Bytecoin should be heading next towards the January 2018 peak in the red wave three.

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

Funnymentals

Bytecoin is a private, decentralized cryptocurrency with an open source code that allows everyone to take part in the network development of Bytecoin. Bytecoin network will be undergoing a hardfork in March 2019.

(Sources: Bytecoin and Bytecoin Hardfork)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) “Bytecoin will takeout the November 2018 peak”.

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) “Bytecoin will drop below the December 2018 low”.

If you think Bytecoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) “Bytecoin will stay in a trading range between the December 2018 low and the November 2018 peak until April 4”.

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

You can upvote the comment until 3 PM EST March 3 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).

Bonus 1

I will be sending one Trophy Token (@trophy-token) or one Steem Monsters (@steemmonsters) card 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.

Bonus 2

Upvote the right comment and the main post with at least $0.10 and you will get 3 x the winning prize.

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