Primecoin (Poloniex: XPMUSD) 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, Primecoin began a wave one leading diagonal advance in April 2015. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in April 2018, and the red wave two (blue sub-waves a-b-c) correction ended in February this year. If this wave count is correct, Primecoin should be heading next towards the April 2018 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Primecoin is a Proof-of-Work cryptocurrency based on searching for prime numbers. You can view their introduction video below.
(Sources: Primecoin and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) “Primecoin 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) “Primecoin will drop below the February 2019 low”.
If you think Primecoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) “Primecoin will stay in a trading range between the February 2019 low and the October 2018 peak until May 3”.
(Chart courtesy of Tradingview.com (log scale))
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