Crypto Contest April 19: VITE

VITE (Bittrex: VITEBTC) 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, VITE began a wave one advance on February 10. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 3, and the red wave two (blue sub-waves a-b-c) correction ended on April 16. If this wave count is correct, VITE should be heading next towards the April 3 peak in the red wave three.

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

Funnymentals

VITE is a DAG/dPOS-based blockchain with one-click token issuance & smart contract capability. You can view their intro

About the author: Markus Aarnio

I have 20 years of investing experience. I have traded stocks, commodities, cryptocurrencies, and forex markets.