Crypto Contest March 8: iExec RLC

iExec RLC (RLCUSD) 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, RLC began a wave one advance on December 7, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 12 this year, and the red wave two (blue sub-waves a-b-c) correction ended on February 6. If this wave count is correct, RLC should be heading next towards the January 12 peak in the red wave three.

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

Looking at the weekly chart, I believe RLC is currently in the red wave three (blue sub-wave iii). The red wave three began on December 7, 2017.

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

Funnymentals

iExec offers blockchain-based decentralized cloud computing. Here is a short overview of the project. The video was published on January 18 by Crypto Coins.

(Sources: https://iex.ec/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "RLC will takeout the January 12 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "RLC will drop below the December 7, 2017 low".

If you think RLC is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "RLC will stay in a trading range between the December 7, 2017 low and the January 12 peak until April 13".

You can upvote the comment until 3 PM EST March 11 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.