Crypto Contest April 29: Nexo

Nexo (HitBTC: NEXOBTC) has broken out of the wedge pattern in the daily chart.

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

Elliott Wave Analysis

In Elliott Wave terms, Nexo began a wave one advance on September 6, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on December 4, 2018, and the red wave two (blue sub-waves a-b-c) correction ended on April 11 this year. If this wave count is correct, Nexo should be heading next towards the December 2018 peak in the red wave three.

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

Funnymentals

Nexo lets you borrow instantly in 45+ fiat currencies and earn daily interest on your

About the author: Markus Aarnio

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