Crypto Contest November 9: IoTeX

IoTeX (IOTXBTC) 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, IoTeX began a wave one advance on August 14. The red wave one finished on September 3, and the red wave two correction ended on September 8. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on October 28, and the red wave four (blue sub-waves a-b-c) correction ended on November 6. If this wave count is correct, IoTeX should be heading next towards the October 28 peak in the red wave five.

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

Funnymentals

IoTeX is a privacy-centric blockchain infrastructure for the Internet of Things (IoT). You can view their latest official news released on November 4.

(Sources: https://iotex.io/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "IoTeX will takeout the October 28 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "IoTeX will drop below the September 8 low".

If you think IoTeX is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "IoTeX will stay in a trading range between the September 8 low and the October 28 peak until December 14".

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

You can upvote the comment until 3 PM EST November 12 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).

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