Crypto Contest January 10: SALT

in #salt7 years ago

SALT (SALTBTC) has broken out of the triangle pattern in the four-hour chart.

nimet_n.png

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, SALT began a wave one advance on November 29, 2017. The red wave one finished on December 6, 2017, and the red wave two correction ended on December 8, 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on December 29, 2017, and the red wave four (blue sub-waves a-b-c) correction ended on January 5 this year. If this wave count is correct, SALT should be heading next towards the December 29, 2017 peak in the red wave five.

nimet_n.png

(Chart courtesy of Tradingview.com (log scale))

Looking at the line chart, one can see that there is no overlapping between waves one and four.

nimet_n.png

(Chart courtesy of Tradingview.com (log scale))

In the daily chart, SALT is most likely in the red wave three (blue sub-wave v).

nimet_n.png

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

The SALT platform is meant to facilitate getting a loan, where the company holds your cryptocoins as collateral while you don't pay back the loan. Here is the official introduction video of the platform.

(Sources: https://www.saltlending.com/ and YouTube)

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If you think this analysis is correct, upvote this post and upvote the comment "SALT will takeout the December 29, 2017 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "SALT will drop below the December 8, 2017 low".

If you think SALT is in a range, upvote this post and upvote the comment "SALT will stay in a trading range between the December 8, 2017 low and the December 29, 2017 peak until February 10".

You can upvote the comment until 3 PM EST January 11 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).

Bonus

I will be sending one Trophy Token to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.

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SALT will takeout the December 29, 2017 peak (45 voters as of 3 PM EST January 11: bleujay, allyouneedtoknow, bentleycapital, heroic15397, libert, simonjay, lydon.sipe, eirik, glennolua, fitinfun, reconnectnature, dirty.hera, mprgrmmr, digitalking, lucasgabd, flemingfarm, catena, mgood, miniature-tiger, toofasteddie, ahinga, themovieplace, mihail.tsvetkov, me-do, richard78624, ragnaros, koskl, andy23, tfeldman, incrediblesnow, harryp3, hermanhanafiah, heidelbaer, napkin, diogosantos, askeb, roadstories, notanengenier, huasipi, karadere, barbadosso, kanoe, utkarshvarma, ilovefashion, papakli).

SALT will stay in a trading range between the December 8, 2017 low and the December 29, 2017 peak until February 10 (22 voters as of 3 PM EST January 11: me-tarzan, gregory-f, crokkon, twinner, jznsamuel, cryptotem, abh12345, komischername, criptorafa, coolthings, starline, carlosdaniel, elisablogs, nuagnorab, freskil, cassidyandfranks, yefet, paul.atreides, jonny1, cata22, tzap90, liberton).

I agree

Thank you for resteeming.

Great idea!

SALT will drop below the December 8, 2017 low (6 voters as of 3 PM EST January 11: sqlinsix, dlina-v-metrah, mirda, gunsmithing, nordina, emma28).

@maarnio - Once again you have picked a coin I have so I hope you are right about SALT. I think it can reach $18 soon.

Nice chart Analysis , because crypto currencies have fallen this week does that affect how or if people that have loans backed by crypto will NOT re pay their loans? If I pawned a gold coin when gold was $1,600 per ounce and the price of gold went down to $1,100 I would walk away from the loan and just re buy the coin at the new lower price. Does that happen with SALT?

I haven't used SALT personally, but I believe they (SALT) can sell the coins if they fall below certain levels.

Thanks for your Upvote!

I think this is a very good project so I can only see SALT going up...
there will be a new support level and then it will takeout the peak of last year!

Thank you for posting @maarnio.

Appreciate your analysis and the video information.

This looks interesting.

Thank you for the reSteem....very much.

Cheers.

Thank you bleujay.

Take a look. These "lending" coins have done quite well lately.

If SALT idea goes successful then its gonna be a below the belt attack on banking industry. lol

Love the idea after Ripple

Salt will takeout sooner ITHINK and have a 90% rise in 5 days frome now.