Crypto Contest April 7: WAX

5개월 전

WAX (Bittrex: WAXETH) 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, WAX began a wave one advance on February 17. The red wave one finished on February 18, and the red wave two correction ended on February 24. The red wave three advance finished on March 14, and the red wave four correction ended on April 3. If this wave count is correct, WAX should be heading next towards the March 14 peak in the red wave five.

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

Zooming out in the daily chart, I believe WAX is in the red wave three (blue sub-wave v). The red wave three began on February 17.

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

Looking at the weekly chart, WAX is most likely in the red wave three.

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

Funnymentals

WAX is a platform to create, buy, sell, and trade virtual items - to anyone, anywhere in the world. You can find their intro video below (link).

(Sources: WAX and YouTube)

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

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

If you think WAX is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "WAX will stay in a trading range between the February low and the March peak until May 12".

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

You can upvote the comment until 3 PM EST April 10 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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WAX will stay in a trading range between the February low and the March peak until May 12 (12 voters as of 3 PM EST April 10: bleujay, allyouneedtoknow, mellofello, abh12345, reconnectnature, kunschj, crokkon, steem-d-anlovnit, votum, diogosantos, mitrado, simonjay).

WAX will drop below the February low (5 voters as of 3 PM EST April 10: sqlinsix, freiheit50, diana.feuerberg, richard78624, sporttr).

WAX will takeout the March peak (8 voters as of 3 PM EST April 10: steemit.nemesis, barbadosso, vicspics, toofasteddie, ace108, galasek, funnel, mgood).

·

You won. Paid out from @maarnio1

I don´t think it will be able to take out the peak, even if it goes all the way up there, it is way too soon to take that super high peak.

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