Blocknet (Bittrex: BLOCKBTC) 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, BLOCK began a wave one advance on January 6. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 22, and the red wave two (blue sub-waves a-b-c) correction ended on March 30. If this wave count is correct, BLOCK should be heading next towards the January 22 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Zooming out in the monthly chart, I believe BLOCK is currently in the red wave three. The red wave three began on January 6.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Blocknet is a 2nd layer blockchain interoperability protocol that enables communication, interaction & exchange between different blockchains. You can read their latest newsletter here.
(Sources: https://blocknet.co/)
How Will Blocknet Trade?
Blocknet (Bittrex: BLOCKBTC) daily chart by Tradingview.
(Chart courtesy of Tradingview.com (log scale))
Prizes
I will be giving upvotes to the correct answers with minimum reputation of 25.
Rules
This poll will expire in one week. Only one vote per person.
Which one will happen first?
Please select one of the three choices and comment below.
BLOCK will takeout the January 22 peak
BLOCK will drop below the January 6 low
BLOCK will stay in a trading range between the January 6 low and the January 22 peak until May 25
Posted via Steemleo