Viacoin has broken out of the wedge pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Viacoin has completed five waves from the July 29 low. The five wave advance finished on the October 25, and the three wave correction ended on the December 2. If this wave count is correct, Viacoin should be heading next towards the October 25 peak.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, Viacoin is currently most likely in the wave three (sub-wave iii). The wave one started in June, and finished in early July. The wave two correction ended on the July 29.
(Chart courtesy of Tradingview.com)
In the monthly chart, I believe Viacoin is in the wave three. The wave one started in the December 2015, and finished in the April 2016. The wave two correction ended in June.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Viacoin.
If you think this analysis is correct, upvote this post and upvote the comment "Viacoin will takeout the November 15 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Viacoin will drop below the July 29 low".
You can upvote the comment until 3 PM EST December 6 and you can upvote only one comment. 100% of Steem (2.367 STEEM) from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.
