Crypto Contest February 10: UpToken

UpToken (Bittrex: UPBTC) 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, UpToken began a wave one advance on November 26, 2018. The red wave one finished on December 12, 2018, and the red wave two correction ended on January 10 this year. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on January 18, and the red wave four (blue sub-waves a-b-c) correction ended on February 9. If this wave count is correct, UpToken should be heading next towards the January 18 peak in the red wave five.

(Chart courtesy

About the author: Markus Aarnio

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