Crypto Contest January 24: BitShares

BitShares (BTSBTC) 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, BitShares began a wave one advance on November 3, 2017. The red wave one finished on November 29, 2017, and the red wave two correction ended on December 8, 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on January 2 this year, and the red wave four (blue sub-waves a-b-c) correction ended on January 17. If this wave count is correct, BitShares should be heading next towards the January 2 peak in the red wave five.

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

Looking at the weekly chart, BitShares is most likely in the red wave three. The red wave three began on November 3, 2017.

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

Funnymentals

BitShares is a decentralized exchange. Connie Willis from Blue Rock Talk recorded a live interview with the godfather of BitShares Stan Larimer on January 17.

(Sources: https://bitshares.org/ and YouTube)

If you think this analysis is correct, upvote this post and upvote the comment "BitShares will takeout the January 2 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Bitshares will drop below the December 8, 2017 low".

If you think BitShares is in a range, upvote this post and upvote the comment "BitShares will stay in a trading range between the December 8, 2017 low and the January 2 peak until February 24".

You can upvote the comment until 3 PM EST January 25 and you can upvote only one comment. 50% of 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 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.