Crypto Contest July 19: BlackCoin

BlackCoin (BLKUSD) 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, BlackCoin began a wave one advance in April 2015. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 7 this year, and the red wave two (blue sub-waves a-b-c) correction ended on June 30. If this wave count is correct, BlackCoin should be heading next towards the January 7 peak in the red wave three.

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

Looking at the monthly chart, I believe BlackCoin is currently in the red wave three (blue sub-wave iii). The red wave three began in April 2015.

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

Funnymentals

BlackCoin is a Proof of Stake coin since 2014. Follow The Coin brings you the very basics in this video published in May 2014.

(Sources: https://blackcoin.org/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "BlackCoin will takeout the May 5 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "BlackCoin will drop below the June 30 low".

If you think BlackCoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "BlackCoin will stay in a trading range between the June 30 low and the May 5 peak until August 23".

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

You can upvote the comment until 3 PM EST July 22 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 (@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.