Crypto Contest February 23: Tezos

Tezos (Bitfinex: XTZUSD) 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, Tezos began a wave one advance on December 7, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on December 24, 2018, and the red wave two (blue sub-waves a-b-c) correction ended on February 6 this year. If this wave count is correct, Tezos should be heading next towards the December 24, 2018 peak in the red wave three.

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

Funnymentals

Tezos is a multi-purpose platform that supports dApps and smart contracts. The Crypto

About the author: Markus Aarnio

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