- 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.