Crypto Contest February 11: Ark
Ark (Bittrex: ARKBTC) 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, Ark began a wave one advance in March 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in September 2017, and the red wave two (blue sub-waves a-b-c) correction ended in December 2018. If this wave count is correct, Ark should be heading next towards the September 2017 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Ark aims to create an entire ecosystem of linked chains and a virtual spiderweb of endless use-cases that make ARK highly flexible, adaptable, and scalable. You can view their official presentation from October 2018 below.
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Ark will takeout the May 2018 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Ark will drop below the December 2018 low".
If you think Ark is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Ark will stay in a trading range between the December 2018 low and the May 2018 peak until March 18".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST February 14 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).
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Published by Maarnio
on
Ark will stay in a trading range between the December 2018 low and the May 2018 peak until March 18 (15 voters as of 3 PM EST February 14: bleujay, bentleycapital, gregory-f, abh12345, barbadosso, crokkon, allyouneedtoknow, soundmoney, toofasteddie, kunschj, jznsamuel, steem-d-anlovnit, mitrado, mgood, fullcoverbetting).
You won. Paid out from @maarnio1
Ark will drop below the December 2018 low (6 voters as of 3 PM EST February 14: diana.feuerberg, sqlinsix, freiheit50, skepticology, vicspics, lydon.sipe).
Ark will takeout the May 2018 peak (3 voters as of 3 PM EST February 14: steemit.nemesis, ace108, galasek).
It´s hard to go up when the entire crypto space wants to stay still, but Ark is definitely one of the coins who is moving towards an up or downtrend.
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