Crypto Contest June 10: CloakCoin

CloakCoin (Bittrex: CLOAKUSD) 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, CloakCoin began a wave one advance in January 2015. 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 May this year. If this wave count is correct, CloakCoin should be heading next towards the December 2017 peak in the red wave three.

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

Funnymentals

CloakCoin is a cryptocurrency designed to facilitate private, secure and untraceable decentralized transfers with Enigma. The coin is now five

About the author: Markus Aarnio

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