Crypto Contest August 6: DMarket

DMarket (DMTBTC) has broken out of the triangle pattern in the 30-minute chart.

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

Elliott Wave Analysis

In Elliott Wave terms, DMarket began a wave one advance on July 25. The red wave one finished on July 27, and the red wave two (blue sub-waves a-b-c) correction ended on August 3. If this wave count is correct, DMarket should be heading next towards the July 27 peak in the red wave three.

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

Funnymentals

DMarket is a blockchain-based marketplace for buying, selling, exchanging and collecting in-game items. Crypto Beadles interviewed the founder and CEO Volodymyr Panchencko on May 16.

(Sources: https://dmarket.com/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "DMarket will takeout the July 27 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "DMarket will drop below the July 25 low".

If you think DMarket is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "DMarket will stay in a trading range between the July 25 low and the July 27 peak until September 10".

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

You can upvote the comment until 3 PM EST August 9 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.