Crypto Contest February 16: Power Ledger

Power Ledger (POWRBTC) 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, Power Ledger began a wave one advance on December 8, 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, Power Ledger 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 Power Ledger is currently in the red wave three (blue sub-wave iii). The red wave three began on December 8, 2017.

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

Funnymentals

Power Ledger is a peer-to-peer marketplace for renewable energy. Here is the official introduction video.

(Sources: https://powerledger.io/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Power Ledger 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) "Power Ledger will drop below the December 8, 2017 low".

If you think Power Ledger is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Power Ledger will stay in a trading range between the December 8, 2017 low and the January 4 peak until March 19".

You can upvote the comment until 3 PM EST February 17 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.