Crypto Contest August 12: Stafi

Stafi (Binance: FISBTC) has broken out of the triangle pattern in the four-hour chart.

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

Elliott Wave Analysis

In Elliott Wave terms, FIS began a red wave one advance on July 31. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on August 6 and the red wave two (blue sub-waves a-b-c) correction ended on August 11. If this wave count is correct, FIS should be heading next towards the August 6 peak in the red wave three.

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

Zooming out in the weekly chart, I believe FIS is currently in the red wave three. The red wave one began in December 2020 and the red wave two correction ended in June this year.

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

Funnymentals

Stafi (short for Staking Finance) is a DeFi protocol that aims to unlock liquidity of staked assets. Altcoin Disrupt reviewed the project one week ago.

(Sources: https://www.stafi.io/)

How Will Stafi Trade?

Stafi (Binance: FISBTC) four-hour chart by Tradingview.

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

Prizes

I will be giving upvotes to the correct answers with minimum reputation of 25.

Rules

This poll will expire in one week. Only one vote per person.

Which one will happen first?

Please select one of the three choices and comment below.

FIS will takeout the August 6 peak

FIS will drop below the July 31 low

FIS will stay in a trading range between the July 31 low and the August 6 peak until September 18