Cryptocurrencies

Crypto Contest March 18: BitTorrent

BitTorrent (Binance: BTTUSDT) 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, BitTorrent began a wave one advance on January 31 this year. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on February 5, and the red wave two (blue sub-waves a-b-c) correction ended on March 8. If this wave count is correct, BitTorrent should be heading next towards the February 5 peak in the red wave three.

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

Funnymentals

BitTorrent aims to tokenize the decentralized file-sharing protocol with their cryptocurrency asset. You can find some more details from the video below.

(Sources: BitTorrent and YouTube)

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

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

If you think BitTorrent is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) “BitTorrent will stay in a trading range between the January low and the February peak until April 22”.

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

You can upvote the comment until 3 PM EST March 21 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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