Crypto Contest March 28: BitSend
BitSend (Bittrex: BSDUSD) has broken out of the triangle pattern in the weekly chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, BitSend began a wave one advance in February 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in January 2018, and the red wave two (blue sub-waves a-b-c) correction ended on March 4 this year. If this wave count is correct, BitSend should be heading next towards the January 2018 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
BitSend is digital cash with masternodes. You can view the masternode stats below.
(Sources: BitSend and Masternode)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "BitSend will takeout the October 29, 2018 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "BitSend will drop below the March 4, 2019 low".
If you think BitSend is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "BitSend will stay in a trading range between the March 4, 2019 low and the October 29, 2018 peak until May 2".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST March 31 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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BitSend will stay in a trading range between the March 4, 2019 low and the October 29, 2018 peak until May 2 (21 voters as of 3 PM EST March 31: bleujay, bentleycapital, gregory-f, mellofello, abh12345, toofasteddie, allyouneedtoknow, harryp3, positivebalances, reconnectnature, utkarshvarma, kunschj, crokkon, steem-d-anlovnit, diogosantos, fullcoverbetting, jznsamuel, simonjay, richard78624, novus-locus, jmehta).
You won. Paid out from @maarnio1
BitSend will drop below the March 4, 2019 low (9 voters as of 3 PM EST March 31: freiheit50, sqlinsix, diana.feuerberg, barbadosso, skepticology, vicspics, mitrado, mgood, sporttr).
BitSend will takeout the October 29, 2018 peak (3 voters as of 3 PM EST March 31: steemit.nemesis, ace108, galasek).
@maarnio, We are watching Triangles in these charts. I am not an chart enthusiast nor an expert but fun to watch the Triangular shapes of the trends.
Posted using Partiko Android
Yep. They can be powerful patterns.
👍
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