Crypto Contest June 9: Bread

in #bread7 years ago (edited)

Bread (BRDUSD) has broken out of the triangle pattern in the daily chart.
nimetön.png
(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, Bread began a wave one advance on March 18. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 4, and the red wave two (blue sub-waves a-b-c) correction ended on May 28. If this wave count is correct, Bread should be heading next towards the May 4 peak in the red wave three.
nimetön2.png

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

Funnymentals

Bread is a simple and secure onramp to bitcoin, ethereum, and other digital currencies. BlockWolf published a PowerPoint presentation about the project on May 17.

(Sources: https://brd.com/ and YouTube)
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If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bread will takeout the May 4 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bread will drop below the March 18 low".

If you think Bread is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bread will stay in a trading range between the March 18 low and the May 4 peak until July 15".

You can upvote the comment until 3 PM EST June 12 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.

Sort:  

Bread will stay in a trading range between the March 18 low and the May 4 peak until July 15 (41 voters as of 3 PM EST June 12: bleujay, gregory-f, bentleycapital, glennolua, soundmoney, simonjay, allyouneedtoknow, abh12345, komischername, jznsamuel, mgood, misalen, scootbuttons, revelationquotes, cryptotem, kunschj, lucasgabd, themovieplace, costanza, steem-d-anlovnit, toofasteddie, starline, rothberg, diogosantos, nicolaepavelean, koskl, mirda, portillo, richard78624, galasek, coolthings, karadere, photoquote, nordina, amity123, mike11, stalexmkl, ragnaros, andy23, mitrado, mihail.tsvetkov).

Bread will drop below the March 18 low (7 voters as of 3 PM EST June 12: sqlinsix, steemit.nemesis, vicspics, liberton, milano1113, nzl19500, sljivanono).

You won.

Bread will takeout the May 4 peak (8 voters as of 3 PM EST June 12: lydon.sipe, skepticology, bxlphabet, barbadosso, reconnectnature, sporttr, marverick984, cosminblaga).

Bread will takeout the May 4 peak

I have a good amount of Bread, I really like what they are doing and what they intend to do... So I'm going to keep my prediction bullish enough!