Crypto Contest February 23: Bela

Bela (BELAUSD) 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, Bela began a wave one advance on November 12, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 11 this year, and the red wave two (blue sub-waves a-b-c) correction ended on February 6. If this wave count is correct, Bela should be heading next towards the January 11 peak in the red wave three.

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

In the weekly chart, Bela is most likely in the red wave five (blue sub-wave iii). The red wave five began on November 12, 2017.

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

Funnymentals

Steemit just got a new competitor. On February 20 Bela tweeted about Belacam early access.

The team describes Belacam as:

Belacam is a photo sharing site like Instagram where you get paid around $.05 in Bela for each like your photo gets. You can withdraw that money or use it to like other users' photos.

(Sources: http://livebela.com/ and Twitter)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bela will takeout the January 11 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bela will drop below the November 12, 2017 low".

If you think Bela is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bela will stay in a trading range between the November 12, 2017 low and the January 11 peak until March 26".

You can upvote the comment until 3 PM EST February 25 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 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.