Crypto Contest October 21: Ripio Credit Network

Ripio Credit Network (RCNBTC) 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, RCN began a wave one advance on August 14. The red wave one finished on August 20, and the red wave two correction ended on September 12. The red wave three advance finished on September 18, and the red wave four correction ended on October 15. If this wave count is correct, RCN should be heading next towards the September 18 peak in the red wave five.

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

Funnymentals

Ripio Credit Network is a P2P loan platform based on Ethereum. Crypto Crusades interviewed the founders in May this year.

(Sources: https://ripiocredit.network/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "RCN will takeout the September 18 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "RCN will drop below the August 14 low".

If you think RCN is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "RCN will stay in a trading range between the August 14 low and the September 18 peak until November 25".

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

You can upvote the comment until 3 PM EST October 24 and you can upvote only one comment. 50% of liquid STEEM + 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 1

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Bonus 2

Upvote the right comment and the main post with at least $0.10 and you will get 3 x the winning prize.