Crypto Contest August 9: Utrust

Utrust (Huobi: UTKBTC) 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, UTK began a red wave one advance on May 12. The red wave one finished on June 8, and the red wave two correction ended on June 12. The red wave three (blue sub-waves i-ii-iii-iv-v) finished on July 22, and the red wave four (blue sub-waves a-b-c) correction ended on July 28. If this wave count is correct, UTK should be heading next towards the July 22 peak in the red wave five.

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

Funnymentals

The Utrust platform allows merchants to accept digital currencies as a means of payment. Altcoin Buzz interviewed the founder back in May this year.

(Sources: https://utrust.com/)

How Will Utrust Trade?

Utrust (Huobi: UTKBTC) 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.

UTK will takeout the July 22 peak

UTK will drop below the July 6 low

UTK will stay in a trading range between the July 6 low and the July 22 peak until September 14