Crypto Contest August 7: Promotion Coin
Promotion Coin (Huobi: PCBTC) 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, Promotion Coin began a wave one advance on May 23. The red wave one finished on July 9, and the red wave two correction ended on July 23. The red wave three advance finished on August 2, and the red wave four correction ended on August 6. If this wave count is correct, Promotion Coin should be heading next towards the August 2 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Zooming out in the daily chart, I believe Promotion Coin is currently in the red wave three (blue sub-wave v). The red wave three began on May 23.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Promotion Chain applies blockchain technology in the promotion industry.
(Sources: Promotion Coin and Whitepaper)
How can I vote? Where is the contest?
You can vote by following this link.
Elliot wave analysis-
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