Crypto Contest October 10: Dogecoin
Dogecoin (DOGEBTC) 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, Dogecoin began a wave one advance on August 14. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on September 11, and the red wave two (blue sub-waves a-b-c) correction ended on September 19. If this wave count is correct, Dogecoin should be heading next towards the September 11 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Looking at the weekly chart, I believe Dogecoin is currently in the red wave three (blue sub-wave iii). The red wave three began on August 14.
(Chart courtesy of Tradingview.com (log scale))
In the monthly chart, Dogecoin is most likely in the red wave three (blue sub-wave iii). The red wave three began in November 2017.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Dogecoin is a Bitcoin clone that has reached success through clever marketing. Cryptocurrency News covered the latest Dogecoin news on September 26.
(Sources: https://dogecoin.com/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Dogecoin will takeout the September 11 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Dogecoin will drop below the August 14 low".
If you think Dogecoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Dogecoin will stay in a trading range between the August 14 low and the September 11 peak until November 14".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST October 13 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) 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.
Dogecoin will takeout the September 11 peak (16 voters as of 3 PM EST October 13: steemquestions, skepticology, diana.feuerberg, positivebalances, toofasteddie, allyouneedtoknow, kunschj, koskl, jznsamuel, reconnectnature, punjolife, techlife, biomanu, fullcoverbetting, lydon.sipe, diogosantos).
Dogecoin will stay in a trading range between the August 14 low and the September 11 peak until November 14 (21 voters as of 3 PM EST October 13: abh12345, glennolua, mellofello, freiheit50, soundmoney, crokkon, revelationquotes, starline, steem-d-anlovnit, jlordc, costanza, dine77, pario, mike11, mitrado, tzap90, richard78624, amity123, moeenali, marverick984, nzl19500).
You won. Paid out from @maarnio1
Dogecoin will drop below the August 14 low (14 voters as of 3 PM EST October 13: sqlinsix, novus-locus, barbadosso, ace108, vicspics, steemit.nemesis, mgood, themovieplace, galasek, rothberg, criptorafa, chotho, portillo, coolthings).
A coin that was created to show/prove a point and now is one of the biggest (Top 20) :D
Drop for sure.
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