Crypto Contest June 12: Matryx

Matryx (Huobi: MTXBTC) 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, Matryx began a wave one advance on February 11. 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 June 4. If this wave count is correct, Matryx should be heading next towards the April 9 peak in the red wave three.

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

Funnymentals

Matryx is composed of a collaboration system to track innovation and a bounty system to award solutions to scientific problems. Dr.

About the author: Markus Aarnio

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