Crypto Contest October 11: GoldCoin

GoldCoin (GLDUSD) has broken out of the wedge pattern in the daily chart.

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

Elliott Wave Analysis

In Elliott Wave terms, GoldCoin began a wave one advance in August 2015. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in January this year, and the red wave two (blue sub-waves a-b-c) correction ended in August. If this wave count is correct, GoldCoin should be heading next towards the January peak in the red wave three.

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

Funnymentals

GoldCoin is a pure open-source proof-of-work (PoW) cryptocurrency based on the original Bitcoin protocol and first released on the bitcointalk.org public forum on May 15th, 2013. You can view their official promo video below.

(Sources: https://www.goldcoin.org/ and YouTube)

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

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

If you think GoldCoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "GoldCoin will stay in a trading range between the August low and the April peak until November 15".

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

You can upvote the comment until 3 PM EST October 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).

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.