Crypto Contest January 16: NoLimitCoin

NoLimitCoin (Bittrex: NLC2BTC) 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, NoLimitCoin began a wave one advance on November 23, 2018. The red wave one finished on December 3, 2018, and the red wave two correction ended on December 7, 2018. The red wave three  (blue sub-waves i-ii-iii-iv-v) advance finished on December 27, 2018, and the red wave four (blue sub-waves a-b-c) correction ended on January 13 this year. If this wave count is correct, NoLimitCoin should be heading next towards the December 27, 2018 peak in the red wave five.

(Chart

About the author: Markus Aarnio

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