Crypto Contest June 4: WAX

WAX (WAXETH) 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, WAX began a wave one advance on March 15. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 19, and the red wave two (blue sub-waves a-b-c) correction ended on May 23. If this wave count is correct, WAX should be heading next towards the April 19 peak in the red wave three.

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

Funnymentals

WAX is a decentralized platform that enables 400+ million gamers to operate virtual marketplaces. Boxmining interviewed WAX president, Malcolm CasSelle, on May 24.

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

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "WAX will takeout the April 19 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "WAX will drop below the March 15 low".

If you think WAX is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "WAX will stay in a trading range between the March 15 low and the April 19 peak until July 10".

You can upvote the comment until 3 PM EST June 7 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.