Crypto Contest May 19: Newton

Newton (Huobi: NEWUSDT) 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, Newton began a wave one advance on April 16. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 19, and the red wave two (blue sub-waves a-b-c) correction ended on May 15. If this wave count is correct, Newton should be heading next towards the April 19 peak in the red wave three.

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

Funnymentals

Newton Project aims to build infrastructure for a community-based economy through the provision of services around governance, collaboration, and incentives. You

About the author: Markus Aarnio

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