Crypto Contest June 25: HempCoin

HempCoin (THCBTC) 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, HempCoin began a wave one leading diagonal advance in May 2014. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 11 this year, and the red wave two correction ended on March 20. If this wave count is correct, HempCoin should be heading next towards the January 11 peak in the red wave three.

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

Funnymentals

HempCoin aims at delivering global liquidity to the agricultural and farming sectors, as well as a simple and decentralized payments system for medical and recreational cannabis, hemp and tobacco. Crypto Love reviewed the sector two months ago.

(Sources: http://hempcoin.org/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "HempCoin will takeout the May 5 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "HempCoin will drop below the December 1, 2017 low".

If you think HempCoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "HempCoin will stay in a trading range between the December 1, 2017 low and the May 5 peak until July 31".

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

You can upvote the comment until 3 PM EST June 28 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 (@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.