Crypto Contest August 8: Huobi Token

Huobi Token (Huobi: HTBTC) 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, Huobi Token began a wave one advance in November 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in April this year, and the red wave two (blue sub-waves a-b-c) correction ended in June. If this wave count is correct, Huobi Token should be heading next towards the April peak in the red wave three.

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

Looking at the weekly chart, I believe Huobi Token is currently in the red wave three (blue sub-wave iii). The red wave three began in November 2018. 

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

Funnymentals

Huobi Token is an exchange based token and native currency of the Huobi crypto exchange. You can watch their intro video below.

(Sources: Huobi Token and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

About the author: Markus Aarnio
I have 20 years of investing experience. I have traded stocks, commodities, cryptocurrencies, and forex markets.

Add your Scripsio!

Join Scripsio and write what you write!

Be a part of the Scripsio community. Share what you have written.

Comments

No comments yet