Monero (XMRUSD) 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, Monero began a wave one advance on September 15, 2017. The red wave one finished on October 25, 2017, and the red wave two correction ended on November 2, 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on December 20, 2017, and the red wave four correction ended on December 22, 2017. If this wave count is correct, Monero should be heading next towards the December 20, 2017 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Switching to the weekly chart, I believe Monero is currently in the red wave five (blue sub-wave v). The red wave five began on September 15, 2017.
(Chart courtesy of Tradingview.com (log scale))
In the monthly chart, Monero is most likely in the red wave three (blue sub-wave v).
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Monero is a privacy coin. Here is a great tutorial how Monero works. It was published by Siraj Raval on December 27, 2017.
(Sources: https://getmonero.org/ and YouTube)
If you think this analysis is correct, upvote this post and upvote the comment "Monero will takeout the December 20, 2017 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Monero will drop below the December 22, 2017 low".
If you think Monero is in a range, upvote this post and upvote the comment "Monero will stay in a trading range between the December 22, 2017 low and the December 20, 2017 peak until February 5".
You can upvote the comment until 3 PM EST January 6 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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