Crypto Contest March 6: Melon

in melon •  7 years ago 

Melon (MLNUSD) 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, Melon began a wave one advance on November 2, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 4 this year, and the red wave two (blue sub-waves a-b-c) correction ended on February 6. If this wave count is correct, Melon should be heading next towards the January 4 peak in the red wave three.

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

Looking at the weekly chart, I believe Melon is currently in the red wave three (blue sub-wave iii). The red wave three began on November 2, 2017.

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

Funnymentals

Melonport offers technology regulated investment funds. Here is the official introduction video.


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

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Melon will takeout the January 4 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Melon will drop below the November 2, 2017 low".

If you think Melon is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Melon will stay in a trading range between the November 2, 2017 low and the January 4 peak until April 11".

You can upvote the comment until 3 PM EST March 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

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  ·  7 years ago (edited)

Melon will takeout the January 4 peak (34 voters as of 3 PM EST March 9: bleujay, steemquestions, bentleycapital, fitinfun, simonjay, lydon.sipe, allyouneedtoknow, anetchen, sanjay91422, dirty.hera, jznsamuel, abh12345, crokkon, lucasgabd, bxlphabet, eirik, komischername, catchup, carlosdaniel, cryptotem, starline, catena, koskl, coolthings, ragnaros, neo-wiza, portillo, mihail.tsvetkov, criptorafa, nordina, galasek, akandadelwar, utkarshvarma, photoquote).

  ·  7 years ago (edited)

Melon will stay in a trading range between the November 2, 2017 low and the January 4 peak until April 11 (30 voters as of 3 PM EST March 9: gregory-f, alexandrya92, heroic15397, ace108, misalen, flemingfarm, glennolua, twinner, reconnectnature, cryptosenpai, toofasteddie, mgood, ahinga, mark.feuerborn, me-do, cassidyandfranks, nicolaepavelean, qmarpot, diogosantos, allmonitors, kunschj, richard78624, erikaflynn, cmoljoe, andy23, paul.atreides, costanza, ilovefashion, kota17, acehnature).

  ·  7 years ago (edited)

Melon will drop below the November 2, 2017 low (10 voters as of 3 PM EST March 9: sqlinsix, dlina-v-metrah, gunsmithing, skepticology, barbadosso, libert, mirda, simplymike, photo-moment, abhicrypto).

You won.

good video my best friend