Crypto Contest April 9: GridCoin

GridCoin (Bittrex: GRCUSD) has broken out of the triangle pattern in the weekly chart.

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

Elliott Wave Analysis

In Elliott Wave terms, GridCoin began a wave one (blue sub-waves i-ii-iii-iv-v) advance in April 2015. The red wave one finished in January 2018, and the red wave two (blue sub-waves a-b-c) correction ended in January this year. If this wave count is correct, GridCoin should be heading next towards the January 2018 peak in the red wave three.

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

Funnymentals

Gridcoin is a cryptocurrency which rewards verified BOINC computation. @parejan published the latest weekly report yesterday (link).

(Sources: GridCoin and Steemit)

If you

About the author: Markus Aarnio

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