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Crypto Contest January 14: Bitcoin

Asked by maarnio Promote - View in Hive.blog - Audit

Bitcoin (Bitstamp: BTCUSD) has broken out of the triangle pattern in the daily chart. nimet-n.png (Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, BTC began a wave one advance in December 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in June 2019, and the red wave two (blue sub-waves a-b-c) correction ended in December 2019. If this wave count is correct, BTC should be heading next towards the June 2019 peak in the red wave three. nimet-n2.png (Chart courtesy of Tradingview.com (log scale))

Zooming out in the monthly chart, I believe BTC is currently in the red wave three (blue sub-wave iii). The blue sub-wave three began in December 2018. nimet-n3.png (Chart courtesy of Tradingview.com (log scale))


Ivan on Tech covered some of the reasons for the current price surge.

(Sources: https://bitcoin.org/en/)

How Will Bitcoin Trade?

Bitcoin (Bitstamp: BTCUSD) daily chart by Tradingview. nimet-n4.png (Chart courtesy of Tradingview.com (log scale))


I will be giving upvotes to the correct answers with minimum reputation of 25.


This poll will expire in one week. Only one vote per person.

Which one will happen first?

Please select one of the three choices.

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BTC will takeout the October 2019 peak (41.3%) 19 / 46
41.3% Complete (success)
BTC will stay in a trading range between the December 2019 low and the October 2019 peak until February 19 (34.78%) 16 / 46
34.78% Complete (success)
BTC will drop below the December 2019 low (23.91%) 11 / 46
23.91% Complete (success)

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