Crypto Contest August 23: Bitswift

Bitswift (BITSUSD) 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, Bitswift began a wave one advance on July 10. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 29, and the red wave two (blue sub-waves a-b-c) correction ended on August 19. If this wave count is correct, Bitswift should be heading next towards the July 29 peak in the red wave three.

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

Zooming out in the daily chart, I believe Bitswift is currently in the red wave three (blue sub-wave iii). The red wave three began on July 10.

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

For longer term charts, we have to go to CoinMarketCap. The red wave one began in October 2014.

(Chart courtesy of coinmarketcap.com)

Funnymentals

Bitswift is a blockchain for every business. You can view the official teaser video below.

(Sources: https://www.bitswift.io/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bitswift will takeout the July 29 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bitswift will drop below the July 10 low".

If you think Bitswift is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bitswift will stay in a trading range between the July 10 low and the July 29 peak until September 27".

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

You can upvote the comment until 3 PM EST August 26 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

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.