Crypto Contest February 8: Ethereum
Ethereum (Kraken: ETHUSD) 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, Ether began a wave one advance on December 14, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 5 this year, and the red wave two (blue sub-waves a-b-c) correction ended on February 6. If this wave count is correct, Ether should be heading next towards the January 5 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Looking at the monthly chart, I believe Ether is currently in the red wave five. The red wave five began on December 14, 2018.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Ether is a necessary element — a fuel — for operating the distributed application platform Ethereum. Crypt0 covered the roadmap on February 6.
(Sources: Ethereum and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Ether will takeout the January peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Ether will drop below the December 2018 low".
If you think Ether is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Ether will stay in a trading range between the December 2018 low and the January peak until March 15".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST February 11 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
Ether will takeout the January peak (9 voters as of 3 PM EST February 11: landofcrypto, bleujay, bentleycapital, steemquestions, steemit.nemesis, allyouneedtoknow, lydon.sipe, novus-locus, galasek).
You won. Paid out from @maarnio1
Ether will stay in a trading range between the December 2018 low and the January peak until March 15 (10 voters as of 3 PM EST February 11: freiheit50, diana.feuerberg, gregory-f, mellofello, skepticology, toofasteddie, ace108, steem-d-anlovnit, jznsamuel, mgood).
Ether will drop below the December 2018 low (3 voters as of 3 PM EST February 11: sqlinsix, barbadosso, mitrado).
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