Crypto Contest September 14: Elastic
Elastic (XELBTC) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Elastic began a wave one advance on July 15. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on August 10, and the red wave two (blue sub-waves a-b-c) correction ended on September 9. If this wave count is correct, Elastic should be heading next towards the August 10 peak in the red wave three.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Elastic will takeout the August 10 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Elastic will drop below the July 15 low".
If you think Elastic is in a range, upvote this post and upvote the comment "Elastic will stay in a trading range between the July 15 low and the August 10 peak until October 15".
You can upvote the comment until 3 PM EST September 15 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).
Elastic will stay in a trading range between the July 15 low and the August 10 peak until October 15 (27 voters as of 3 PM EST September 15: bleujay, freiheit50, bentleycapital, twinner, soundmoney, simonjay, me-tarzan, flemingfarm, damla, themovieplace, steemit.nemesis, yefet, yinyangboobookat, starline, dlina-v-metrah, komischername, cassidyandfranks, jznsamuel, mirda, coolthings, toofasteddie, ragnaros, carlosdaniel, andy23, mprgrmmr, abay, barcalogia).
You won.
Elastic will takeout the August 10 peak (13 voters as of 3 PM EST September 15: landofcrypto, otisbrown, lydon.sipe, lucasgabd, catena, kooshikoo, tzap90, eirik, anetchen, digitalking, crazyindian, freskil, me-do).
Just fly baby...
Elastic will drop below the July 15 low (4 voters as of 3 PM EST September 15: gregory-f, razorwave8, libert, gunsmithing).
So now is a good time to buy or sell?
Buy if you believe my analysis is correct.
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