Crypto Contest November 1: Steem

maarnio(75)

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#steem

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Steem (STEEMUSD) has broken out of the triangle pattern in the daily chart.
nimetön.png

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, Steem began a wave one advance on September 11. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on September 24, and the red wave two (blue sub-waves a-b-c) correction ended on October 31. If this wave count is correct, Steem should be heading next towards the September 24 peak in the red wave three.
nimetön2.png

(Chart courtesy of Tradingview.com (log scale))

Looking at the monthly chart, I believe Steem is currently in the red wave three. The red wave three began on September 11.
nimetön3.png

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

There are currently 1,167,386 Steem accounts.
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(Sources: https://steem.com/ and penguinpablo)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Steem will takeout the September 24 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Steem will drop below the September 11 low".

If you think Steem is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Steem will stay in a trading range between the September 11 low and the September 24 peak until December 6".
nimetön4.png

(Chart courtesy of Tradingview.com (log scale))

You can upvote the comment until 3 PM EST November 4 and you can upvote only one comment. 50% of liquid STEEM + SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).

Bonus 1

I will be sending one Trophy Token (@trophy-token) to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.