Crypto Contest February 7: Vertcoin
Vertcoin (Bittrex: VTCBTC) 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, Vertcoin began a wave one advance in November 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in October 2017, and the red wave two (blue sub-waves a-b-c) correction ended in December 2018. If this wave count is correct, Vertcoin should be heading next towards the October 2017 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Looking at the monthly chart, I believe Vertcoin is currently in the red wave three (blue sub-wave iii). The red wave three began in November 2016.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Vertcoin is an open and decentralized blockchain based currency focused on long term distribution of mining consensus. You can find their latest hard fork video filmed on February 1 below (click the YouTube link in the "Sources").
(Sources: Vertcoin and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Vertcoin will takeout the July 2018 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Vertcoin will drop below the December 2018 low".
If you think Vertcoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Vertcoin will stay in a trading range between the December 2018 low and the July 2018 peak until March 14".
(Chart courtesy of Tradingview.com (log scale))
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Published by Maarnio
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Vertcoin will stay in a trading range between the December 2018 low and the July 2018 peak until March 14 (16 voters as of 3 PM EST February 10: bleujay, bentleycapital, mellofello, abh12345, crokkon, allyouneedtoknow, bcarolan639, toofasteddie, reconnectnature, novus-locus, kunschj, harryp3, mitrado, steem-d-anlovnit, jznsamuel, fullcoverbetting).
You won. Paid out from @maarnio1
Vertcoin will drop below the December 2018 low (7 voters as of 3 PM EST February 10: sqlinsix, diana.feuerberg, barbadosso, skepticology, vicspics, lydon.sipe, mgood).
Vertcoin will takeout the July 2018 peak (4 voters as of 3 PM EST February 10: freiheit50, steemit.nemesis, ace108, galasek).
Looking at the charts not much can be expected, once again I think Vertcoin will stay in trading range.
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