Crypto Contest January 26: Metacoin

Metacoin (Bittrex: MTCUSD) 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, MTC began a red wave one advance on January 22. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on January 24 and the red wave two (blue sub-waves a-b-c) correction ended on January 26. If this wave count is correct, MTC should be heading next towards the January 24 peak in the red wave three. (Chart courtesy of Tradingview.com (log scale))

Funnymentals

Metacoin is a project that focuses on expanding the ecosystem by solving and improving problems that traditional cryptocurrencies cannot overcome. They just got listed on Bittrex.

(Sources: https://metacoin.network/)

How Will Metacoin Trade?

Metacoin (Bittrex: MTCUSD) 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.

MTC will takeout the January 24 peak

MTC will drop below the January 22 low

MTC will stay in a trading range between the January 22 low and the January 24 peak until March 4

Posted Using LeoFinance ^Beta