COVER Protocol (Binance: COVERBUSD) 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, COVER began a red wave one advance on December 5. The red wave one finished on December 6 and the red wave two correction ended on December 8. The red wave three (blue sub-waves i-ii-iii-iv-v) finished on December 10 and the red wave four (blue sub-waves a-b-c) correction ended on December 12. If this wave count is correct, COVER should be heading next towards the December 10 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
COVER Protocol provides peer to peer coverage with fungible tokens. Gabriel Haines covered the protocol yesterday.
(Sources: https://www.coverprotocol.com/)How Will COVER Protocol Trade?
COVER Protocol (Binance: COVERUSD) four-hour chart by Tradingview.
(Chart courtesy of Tradingview.com (log scale))
Prizes
I will be giving upvotes to the correct answers with minimum reputation of 25.
Rules
This poll will expire in one week. Only one vote per person.
Which one will happen first?
Please select one of the three choices and comment below.
COVER will takeout the December 10 peak
COVER will drop below the December 8 low
COVER will stay in a trading range between the December 8 low and the December 10 peak until January 21, 2021