Cryptocurrencies

Crypto Contest February 8: Ethereum

Ethereum (Kraken: ETHUSD) 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, Ether began a wave one advance on December 14, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 5 this year, and the red wave two (blue sub-waves a-b-c) correction ended on February 6. If this wave count is correct, Ether should be heading next towards the January 5 peak in the red wave three.

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

Looking at the monthly chart, I believe Ether is currently in the red wave five. The red wave five began on December 14, 2018.

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

Funnymentals

Ether is a necessary element — a fuel — for operating the distributed application platform Ethereum. Crypt0 covered the roadmap on February 6.

(Sources: Ethereum and YouTube)

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

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

If you think Ether is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) “Ether will stay in a trading range between the December 2018 low and the January peak until March 15”.

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

You can upvote the comment until 3 PM EST February 11 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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