Crypto Contest January 26: Memetic

Memetic (Bittrex: MEMEUSD) 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, Memetic began a wave one advance in December 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in December 2017, and the red wave two (blue sub-waves a-b-c) correction ended in December 2018. If this wave count is correct, Memetic should be heading next towards the December 2017 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Memetic is a Proof of Stake cryptocurrency platform for the Kekdaq decentralized exchange and IPFS meme storage platform.

About the author: Markus Aarnio

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