Crypto Contest October 22: More Coin
More Coin (MOREBTC) 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, More Coin began a wave one advance on August 8. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on August 12, and the red wave two (blue sub-waves a-b-c) correction ended on September 7. If this wave count is correct, More Coin should be heading next towards the August 12 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
More Coin is a utility token based on Ethereum technology that is used at More locations around the world. The first More club is in Las Vegas inside of Hyde at the Bellagio.
(Sources: http://www.mre.live/)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "More Coin will takeout the August 12 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "More Coin will drop below the August 8 low".
If you think More Coin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "More Coin will stay in a trading range between the August 8 low and the August 12 peak until November 26".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST October 25 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).
Bonus 1
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.
Bonus 2
Upvote the right comment and the main post with at least $0.10 and you will get 3 x the winning prize.
More Coin will stay in a trading range between the August 8 low and the August 12 peak until November 26 (26 voters as of 3 PM EST October 25: bleujay, bentleycapital, gregory-f, novus-locus, mellofello, abh12345, glennolua, simonjay, camdor, kunschj, toofasteddie, jznsamuel, starline, revelationquotes, steem-d-anlovnit, lucasgabd, koskl, themovieplace, dine77, mirda, mitrado, jozef230, fullcoverbetting, what-is-life, richard78624, nzl19500).
You won. Paid out from @maarnio1
More Coin will drop below the August 8 low (7 voters as of 3 PM EST October 25: sqlinsix, diana.feuerberg, allyouneedtoknow, vicspics, barbadosso, reconnectnature, tzap90).
What about Steem? @maarnio We can follow each others on Steemauto?
More Coin will takeout the August 12 peak (4 voters as of 3 PM EST October 25: ace108, steemit.nemesis, criptorafa, galasek).
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