Crypto Contest March 1: Ripio Credit Network

Ripio Credit Network (Binance: RCNBTC) 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, RCN began a wave one advance in August 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in October 2018, and the red wave two (blue sub-waves a-b-c) correction ended in January this year. If this wave count is correct, RCN should be heading next towards the October 2018 peak in the red wave three.

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

Funnymentals

Ripio Credit Network is a global credit network based on cosigned smart contracts. Proof Suite reviewed the platform in November 2018.

(Sources: Ripio Credit Network and YouTube)

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

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

If you think RCN is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) “RCN will stay in a trading range between the August 2018 low and the October 2018 peak until April 5”.

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

You can upvote the comment until 3 PM EST March 4 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

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Bonus 2

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