Cryptocurrencies

Crypto Contest March 30: Nxt

Nxt (Bittrex: NXTUSD) 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, Nxt began a wave one advance in January 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in December 2017, and the red wave two (blue sub-waves a-b-c) correction ended in February this year. If this wave count is correct, Nxt should be heading next towards the December 2017 peak in the red wave three.

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

Funnymentals

Nxt uses the blockchain to create an entire ecosystem of decentralized features, all of which require the Nxt currency. You can read their roadmap here.

(Sources: Nxt and Roadmap)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) “Nxt 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) “Nxt will drop below the February 2019 low”.

If you think Nxt is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) “Nxt will stay in a trading range between the February 2019 low and the November 2018 peak until May 4”.

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

You can upvote the comment until 3 PM EST April 2 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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