Crypto Contest July 8: ReddCoin

ReddCoin (Bittrex: RDDUSD) 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, RDD began a red wave one advance on March 13. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 11, and the red wave two (blue sub-waves a-b-c) correction ended on June 27. If this wave count is correct, RDD should be heading next towards the May 11 peak in the red wave three. (Chart courtesy of Tradingview.com (log scale))

Zooming out in the monthly chart, I believe RDD is currently in the red wave three. (Chart courtesy of Tradingview.com (log scale))

Funnymentals

Reddcoin is a decentralized cryptocurrency used to tip or send payments for social content. Coin Bureau reviewed the coin last year.

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

How Will Reddcoin Trade?

ReddCoin (Bittrex: RDDUSD) 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.

RDD will takeout the May 11 peak

RDD will drop below the April 16 low

RDD will stay in a trading range between the April 16 low and the May 11 peak until August 13

Posted Using LeoFinance