Crypto Contest August 1: Balancer

Balancer (FTX: BALUSD) 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, BAL began a red wave one advance on July 16. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 24, and the red wave two (blue sub-waves a-b-c) correction ended on July 28. If this wave count is correct, BAL should be heading next towards the July 24 peak in the red wave three. (Chart courtesy of Tradingview.com (log scale))

Funnymentals

Balancer is a non-custodial portfolio manager, liquidity provider, and price sensor. Boxmining reviewed the platform last month.

(Sources: https://balancer.finance/)

How Will Balancer Trade?

Balancer (FTX: BALUSD) 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.

BAL will takeout the July 24 peak

BAL will drop below the July 16 low

BAL will stay in a trading range between the July 16 low and the July 24 peak until September 6

Posted Using LeoFinance