Crypto Contest August 10: Skycoin

Skycoin (Binance: SKYUSD) 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, SKY began a red wave one advance on June 27. 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 27. If this wave count is correct, SKY should be heading next towards the July 24 peak in the red wave three. (Chart courtesy of Tradingview.com (log scale))

Zooming out in the daily chart, I believe SKY is currently in the red wave three (blue sub-wave iii). The red wave three began on June 27. (Chart courtesy of Tradingview.com (log scale))

Funnymentals

Skycoin is an open-source, community-owned, hardware-based peer-to-peer internet that leverages the incentive structure of the blockchain. Adam Stokes interviewed Synth in May this year.

(Sources: https://www.skycoin.com/)

How Will Skycoin Trade?

Skycoin (Binance: SKYUSD) daily 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.

SKY will takeout the July 24 peak

SKY will drop below the June 27 low

SKY will stay in a trading range between the June 27 low and the July 24 peak until September 15

Posted Using LeoFinance