Crypto Contest January 30: Ethos

Ethos (Binance: BQXETH) 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, Ethos began a wave one advance on January 5. The red wave one finished on January 13, and the red wave two correction ended on January 14. 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 January 28. If this wave count is correct, Ethos should be heading next towards the January 18 peak in the red wave five.

(Chart courtesy of Tradingview.com (log scale))
Funnymentals
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About the author: Markus Aarnio

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