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Crypto Contest June 13: TrueFi

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Markus Aarnio
@maarnio
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TrueFi (Binance: TRUBTC) 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, TRU began a red wave one advance on April 20. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on May 23 and the red wave two (blue sub-waves a-b-c) correction ended on June 11. If this wave count is correct, TRU should be heading next towards the May 23 peak in the red wave three. (Chart courtesy of Tradingview.com (log scale))

Zooming out in the daily chart, I believe TRU is currently in the red wave three (blue sub-wave iii). The red wave one began on January 3 and the red wave two correction ended on April 20.  (Chart courtesy of Tradingview.com (log scale))

Funnymentals

TrueFi is a DeFi protocol for uncollateralized lending. You can watch their explainer video below.

(Sources: https://truefi.io/)

How Will TrueFi Trade?

TrueFi (Binance: TRUBTC) 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.

TRU will takeout the May 23 peak

TRU will drop below the April 20 low

TRU will stay in a trading range between the April 20 low and the May 23 peak until July 20

Posted Using LeoFinance Beta