Crypto Contest May 7: Conflux Network

Conflux Network (Binance: CFXUSDT) 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, CFX began a red wave one advance on April 23. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on April 28 and the red wave two (blue sub-waves a-b-c) correction ended on May 7. If this wave count is correct, CFX should be heading next towards the April 28 peak in the red wave three.

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

Funnymentals

Conflux Network is connecting decentralized economies across borders and protocols. AI on Crypto reviewed the project earlier this month.

(Sources: https://confluxnetwork.org/)

How Will Conflux Network Trade?

Conflux Network (Binance: CFXUSDT) 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.

CFX will takeout the April 28 peak

CFX will drop below the April 23 low

CFX will stay in a trading range between the April 23 low and the April 28 peak until June 13