Crypto Contest January 13: Tap
Tap (Bittrex: XTPUSD) 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, XTP began a wave one advance on December 29, 2019. The red wave one finished on January 1 this year, and the red wave two correction ended on January 4. The red wave three (blue sub-waves i-ii-iii-iv-v) finished on January 11, and the red wave four (blue sub-waves a-b-c) correction ended on January 12. If this wave count is correct, XTP should be heading next towards the January 11 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Zooming out in the daily chart, I believe XTP is currently in the red wave three (blue sub-wave v). The red wave three began on December 29, 2019.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Tap offers a trading app and a prepaid Mastercard.
(Sources: https://www.tap.global/)
How Will Tap Trade?
Tap (Bittrex: XTPUSD) daily 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.
- Tap will takeout the January 11 peak
- Tap will drop below the January 3 low
- Tap will stay in a trading range between the January 3 low and the January 11 peak until February 18
Answer the question at dpoll.xyz.