Crypto Contest June 9: Bread

Bread (BRDUSD) 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, Bread began a wave one advance on March 18. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 4, and the red wave two (blue sub-waves a-b-c) correction ended on May 28. If this wave count is correct, Bread should be heading next towards the May 4 peak in the red wave three.

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

Funnymentals

Bread is a simple and secure onramp to bitcoin, ethereum, and other digital currencies. BlockWolf published a PowerPoint presentation about the project on May 17.

(Sources: https://brd.com/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bread will takeout the May 4 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bread will drop below the March 18 low".

If you think Bread is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bread will stay in a trading range between the March 18 low and the May 4 peak until July 15".

You can upvote the comment until 3 PM EST June 12 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 (@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.