• gertvanlagen

$BTT, $EZ, $XEC, $DATA, $ALPHA- 9th draw October challenge

Updated: Oct 7, 2021

The higher a target, the more likely a lower target will be the cycle top. Highest targets are deemed possible when the total market capitalization grows to 10T EOY '21.

--> link to challenge dashboard


$BTT - BitTorrent

Monetizing copy righted material with this project violates many laws across the globe. That's why I put this project in the risky corner.


Targets 4-5 Elliott wave:
  • $0.017: 1.272 extension of 3-4 countertrend wave 2.272 ext. of '19 bear market;

  • $0.03: 1.618 extension of 3-4 countertrend wave 2.618 ext. of '19 bear market;

  • $0.06: 2 extension of 3-4 countertrend wave 3 ext. of '19 bear market;

  • $0.18: 2.618 extension of 3-4 countertrend wave 3.618 ext. of '19 bear market.


Key resistance to break: $0.6-0.8

Key support to hold: $0.002

Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.


 

$EZ - EasyFi

This project got hacked in April this year and millions were stolen, after which price dumped by 99%. I don't see it recover that quickly from that. The analysis below shows the Fibonacci retracement levels between the all-time high and low.


Key resistance to break: $10-19 2 failed attempts

Key support to hold: $2.2

Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.


 

$XEC - eCash

Bitcoin Cash ABC (BCHA) has rebranded to eCash (XEC). In simple words they took a failed BTC hardfork project (Bitcoin Cash ABC - $BCHA) and multiplied it's supply by 1 million, that is: 1 $BCHA = 1,000,000 $XEC. Why would you do that? Maybe when you're targeting simple minds that always buy the coins which are worth the least in USD and rather have 1 million $XEC than 0.8 $BCHA because it feels more but is worth less. Maybe they should rebrand it once again and name it eTrash.

 

$DATA - Streamr

The Fibonacci resistance between $0.007 and $0.015 has been broken. However it seems a struggle to flip it to support, because a symmetrical triangle is forming right inside the resistance zone. Use the volume indicator to see whether a breakout at either side of the triangle is real or a fake-out. Low volume indicates a fake-out, whereas high volume indicates a real break-out.



Targets when breaking ATH (let's first see!):

  • $1.2;

  • $5.5


Key support to hold: Lower dashed yellow trend line

Key resistance to break: higher dashed yellow trend line

Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.


 

$ALPHA - Alpha Finance Lab

It has a very low credibility score (link). What bothers me is that the wave up from December 2020 till January 2021 does look like a bear flag, after which it saw only lower highs and lower lows, while $BTC tanked. To prove it's in a bull cycle, it needs to break the resistance between $1.2 and $1.8 with high volume. Also the yearly VWAP is acting as resistance, which is a strong bearish signal.


Key resistance to break: $1.2-1.8 (higher blue trend line)

Key support to hold: $0.9 (lower blue trend line)


Tip: in the tradingview chart you can press the play button, to see how price evolved after this analysis was made.



DISCLAIMER: The targets that I identify are based on Technical Analysis and are by no means guarantees that these will be met. You can use (intermediate) targets to build your trading strategy to determine which price targets are strong take profit or stop loss levels. Always do your own research and don't blame me for your own trading decisions.
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