Crypto Contest June 10: Ambrosus

Ambrosus (AMBUSD) 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, Ambrosus began a wave one advance on April 1. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 4, and the red wave two (blue sub-waves a-b-c) correction ended on May 29. If this wave count is correct, Ambrosus should be heading next towards the May 4 peak in the red wave three.

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

Looking at the weekly chart, I believe Ambrosus is currently in the red wave three (blue sub-wave iii). The red wave three began on April 1.

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

Funnymentals

Ambrosus is a supply chain project. Cryptolite published a token review on May 31.

(Sources: https://ambrosus.com/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Ambrosus will takeout the May 4 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Ambrosus will drop below the April 1 low".

If you think Ambrosus is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Ambrosus will stay in a trading range between the April 1 low and the May 4 peak until July 16".

You can upvote the comment until 3 PM EST June 13 and you can upvote only one comment. 50% of 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

I will be sending one Trophy Token (@trophy-token) 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.