Crypto Contest August 13: Mithril

Mithril (MITHKRW) has broken out of the triangle pattern in the four-hour chart.

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

Elliott Wave Analysis

In Elliott Wave terms, Mithril began a wave one advance on June 14. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 30, and the red wave two (blue sub-waves a-b-c) correction ended on August 11. If this wave count is correct, Mithril should be heading next towards the July 30 peak in the red wave three.

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

For longer term charts, we have to take a look at CoinMarketCap. I believe Mithril is currently in the red wave three (blue sub-wave iii). The red wave three began on June 14.

(Chart courtesy of Coinmarketcap.com)

Funnymentals

Mithril is a social media token. Crypto Coins published a project overview on July 31.

(Sources: https://mith.io/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Mithril will takeout the July 30 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Mithril will drop below the June 14 low".

If you think Mithril is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Mithril will stay in a trading range between the June 14 low and the July 30 peak until September 17".

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

You can upvote the comment until 3 PM EST August 16 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

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.