Crypto Contest June 29: V Systems

V Systems (Bitfinex: VSYBTC) 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, V Systems began a wave one advance on January 18. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on March 28, and the red wave two (blue sub-waves a-b-c) correction ended on May 14. If this wave count is correct, V Systems should be heading next towards the March 28 peak in the red wave three.

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

Funnymentals

V Systems is the blockchain database cloud by Sunny King, creator of PoS. You can watch their introduction

Bitcoin Isn’t For The Faint Of Heart

People who got in Bitcoin for the first time in the last 1-2 due to FOMO got burned again (just like in late 2018) when price collapsed on Weds.  

Bitcoin soared as much as 39% this week to $13,852, the highest since January 2018. But it hit a brick wall around 4:30 p.m. New York time Wednesday, plunging more than $1,800 within about 10 minutes. Moments later, prominent cryptocurrency exchange Coinbase Inc. reported an outage on its consumer site, which was resolved in under an hour. Swings continued Thursday, with the coin anywhere from down 15% to up 4.8%.It was down

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