• gertvanlagen

$TEL, $FET, $AUDIO - 5th 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


$TEL - Telcoin

Elliottwave: 1-2 qualifies as a sharp correction and 3-4 as a flat correction.


Targets:

  • $0.15 at 1.414 extension of 3-4 countertrend wave AND 1.618 extension of '19 bear market;

  • $0.80 at 2.272 extension of 3-4 countertrend wave AND 2 extension of '19 bear market;

Key support to hold: $0.01

Key resistance to break: $0.03-0.04

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


 

$FET - Fetch.ai

$FET is channeling upward in the green raising channel.


Targets are:

  • $2.5 at 1.618 extension of 3-4 countertrend wave AND 1.414 extension of 2019 bear market;

  • $5 at 2 extension of 3-4 countertrend wave AND 1.618 extension of 2019 bear market;

  • $22 at 4.618 extension of 3-4 countertrend wave AND 2.618 extension of 2018 bear market AND also confluent with the top of the rising channel EOY '21;

Key support to hold: $0.45-0.6 and ultimately the lower green trendline

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


 

$AUDIO - Audius

In October $AUDIO might see some more consolidation due to the fact that 100M new tokens will be issued. The good news is that it will be the last time this year.


Once the October consolidation has past, I expect price to break the resistance between $2.15 and $3.15 with big volume. $AUDIO is ranging upward in a green raising channel. A great entry could be at the lower trend line of this channel.


Once price starts to appreciate (expected Nov. 1st), I see it grow to one of the following targets:

  • $19 at 1.618 extension of 3-4 countertrend wave AND 1.414 of current ATH to ATL;

  • $40 at 2 extension of 3-4 countertrend wave AND 1.618 of current ATH to ATL AND also confluent with the top of the rising channel EOY '21.

Key support to hold: lower green trendline

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 purely 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 decisions.
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