Crypto Contest April 15: ChatCoin

ChatCoin (Huobi: CHATBTC) 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, ChatCoin began a wave one advance on December 7, 2018. The red wave one finished on December 14, and the red wave two correction ended on December 21. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on April 6 this year, and the red wave four correction ended on April 11. If this wave count is correct, ChatCoin should be heading next towards the April 6 peak in the red wave five.

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

Funnymentals

ChatCoin

Forex Relative Strength Analysis Report For 4/14/19

Some of the world’s currencies are accepted for most international transactions. The most popular currencies are accepted for most international transactions are the U.S. dollar, the euro, and the yen. However, the U.S. dollar is the most popular. And in the foreign exchange market 90 of forex trading involves the U.S. dollar.  Thus, when assessing the relative strength of the most popular currencies in the world, it’s always against the U.S. dollar, using the daily time frame chart.

The “major” forex currency pairs are the major countries that are paired with the U.S. dollar (the nicknames of the majors are

Cryptos Look to be Bouncing Off Support

Though it’s still a bit early, many coins look like they are bouncing off the support levels they pulled back to the past week.
Let’s take a quick look at a couple of them…
Litecoin Looking Orderly

Looking at the chart of litecoin in the daily timeframe you see it pulled back to the first level support target, which was the prior resistance.
This is a confirmation of the break and bodes well.  However, I will feel alot better about it if price can push to the previous top at $100.
In the end – if it just consolidates sideways that would still be fine