Machine Xchange Coin (Huobi: MXCBTC) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, MXC began a wave one advance on January 15. The red wave one finished on January 19, and the red wave two correction ended on January 29. The red wave three advance finished on March 6, and the red wave four correction ended on March 13. If this wave count is correct, MXC should be heading next towards the March 6 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Zooming out in the weekly chart, I believe MXC is currently in the red wave three. The red wave three began on January 15.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
MXC is building a global data network to allow wireless devices to connect and communicate more efficiently and over longer distances than currently used WiFi and Bluetooth methods. You can watch their latest AMA below.
(Sources: https://www.mxc.org/)How Will Machine Xchange Coin Trade?
Machine Xchange Coin (Huobi: MXCBTC) 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 and comment below.
MXC will takeout the March 6 peak
MXC will drop below the January 15 low
MXC will stay in a trading range between the January 15 low and the March 6 peak until April 18
Posted via Steemleo
