Loom Network (Binance: LOOMBTC) 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, LOOM began a red wave one advance on July 27. The red wave one (blue sub-waves i-ii-iii-iv-v) ended on August 30, and the red wave two (blue sub-waves a-b-c) correction finished on September 4. If this wave count is correct, LOOM should be heading next towards the August 30 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Zooming out in the daily chart, I believe LOOM is currently in the red wave three (blue sub-wave iii). The red wave three began on July 27.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Loom Network is building a distributed enterprise platform for managing data — focused on healthcare providers and government departments. You can read their roadmap here.
(Sources: https://loomx.io/)
How Will Loom Network Trade?
Loom Network (Binance: LOOMBTC) 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.
LOOM will takeout the August 30 peak
LOOM will drop below the July 27 low
LOOM will stay in a trading range between the July 27 low and the August 30 peak until October 11
