Crypto Contest January 18: Power Ledger
Power Ledger (Binance: POWRBTC) 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, Power Ledger began a wave one advance in November 2017. 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 in November 2018. If this wave count is correct, Power Ledger should be heading next towards the January 2018 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Power Ledger provides blockchain energy solutions for humanity. You can view their peer-to-peer electricity trading project in Bangkok, Thailand below.
(Sources: Power Ledger and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Power Ledger will takeout the July 2018 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Power Ledger will drop below the November 2018 low".
If you think Power Ledger is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Power Ledger will stay in a trading range between the November 2018 low and the July 2018 peak until February 22".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST January 21 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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Published by Maarnio
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Power Ledger will stay in a trading range between the November 2018 low and the July 2018 peak until February 22 (19 voters as of 3 PM EST January 21: bleujay, acidyo, bentleycapital, mellofello, abh12345, gregory-f, allyouneedtoknow, soundmoney, tzap90, steem-d-anlovnit, toofasteddie, jznsamuel, harryp3, mitrado, diogosantos, mgood, kunschj, fullcoverbetting, richard78624).
You won. Paid out from @maarnio1
Power Ledger will drop below the November 2018 low (6 voters as of 3 PM EST January 21: sqlinsix, diana.feuerberg, freiheit50, vicspics, skepticology, barbadosso).
Power Ledger will takeout the July 2018 peak (7 voters as of 3 PM EST January 21: steemquestions, steemit.nemesis, reconnectnature, ace108, utkarshvarma, galasek, sporttr).
I think I mentioned this before, but I'm invested into Power Ledger and, although I would love to see it taking out previous peaks. I don´t think the crypto markets are ready for it to happen with any coin.
Interesting, I like the proyection
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