Qora has broken the daily triangle pattern to the upside.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Qora began a five wave advance on January 4 in the four-hour chart. The wave one finished on January 16, and the wave two correction ended on January 26. The wave three advance finished on January 27, and the wave four correction ended on January 28. I believe Qora is currently in the wave five, which should takeout the January 27 peak.
(Chart courtesy of Tradingview.com)
In the weekly chart, Qora began a wave one advance in January 2016. The wave one finished in March 2016, and the wave two correction ended on January 4. I believe Qora is currently in the wave three, which should takeout the March 2016 peak.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Qora.
If you think this analysis is correct, upvote this post and upvote the comment "Qora will takeout the September 13, 2016 peak".
(Chart courtesy of Tradingview.com)
If you think this analysis is wrong, upvote this post and upvote the comment "Qora will drop below the January 4 low".
If you think Qora is in a range, upvote this post and upvote the comment "Qora will stay in a trading range between the January 4 low and the September 13, 2016 peak until February 26".
You can upvote the comment until 3 PM EST January 30 and you can upvote only one comment. 200% of Steem (2 X 0.114 STEEM) from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.
