Hifi Finance (formerly Mainframe) (Binance: MFTUSDT) 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, MFT began a red wave one advance on October 7, 2020. The red wave one peaked on December 19, 2020 and the red wave two correction ended on December 24, 2020. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on February 17 this year and the red wave four (blue sub-waves a-b-c) correction ended on February 23. If this wave count is correct, MFT should be heading next towards the February 17 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Zooming out in the daily chart, I believe MFT is currently in the red wave three (blue sub-wave v). The red wave one began on March 13, 2020 and the red wave two correction ended on October 7, 2020.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Hifi (formerly Mainframe) is a lending protocol that allows anyone to borrow against their crypto. You can watch their latest AMA below.
(Sources: https://hifi.finance/)How Will Hifi Finance Trade?
Hifi Finance (formerly Mainframe) (Binance: MFTUSDT) 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.
MFT will takeout the February 17 peak
MFT will drop below the January 22 low
MFT will stay in a trading range between the January 22 low and the February 17 peak until April 9
