Crypto Contest June 1: BitUP Token

BitUP Token (Huobi: BUTBTC) 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, BitUP Token began a wave one advance on February 20. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 9, and the red wave two (blue sub-waves a-b-c) correction ended on May 14. If this wave count is correct, BitUP Token should be heading next towards the April 9 peak in the red wave three.

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

Funnymentals

BitUP is a digital assets management platform. You can view their roadmap below.

(Sources: BitUP)

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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.