SALT (SALTBTC) 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, SALT began a wave one advance on November 29, 2017. The red wave one finished on December 6, 2017, and the red wave two correction ended on December 8, 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on December 29, 2017, and the red wave four (blue sub-waves a-b-c) correction ended on January 5 this year. If this wave count is correct, SALT should be heading next towards the December 29, 2017 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Looking at the line chart, one can see that there is no overlapping between waves one and four.
(Chart courtesy of Tradingview.com (log scale))
In the daily chart, SALT is most likely in the red wave three (blue sub-wave v).
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
The SALT platform is meant to facilitate getting a loan, where the company holds your cryptocoins as collateral while you don't pay back the loan. Here is the official introduction video of the platform.
(Sources: https://www.saltlending.com/ and YouTube)
If you think this analysis is correct, upvote this post and upvote the comment "SALT will takeout the December 29, 2017 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "SALT will drop below the December 8, 2017 low".
If you think SALT is in a range, upvote this post and upvote the comment "SALT will stay in a trading range between the December 8, 2017 low and the December 29, 2017 peak until February 10".
You can upvote the comment until 3 PM EST January 11 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).
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