Crypto Contest June 16: RIF Token

RIF Token (Bitfinex: RIFUSD) 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, RIF Token began a wave one advance on February 13. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on February 24, and the red wave two (blue sub-waves a-b-c) correction ended on May 15. If this wave count is correct, RIF Token should be heading next towards the February 24 peak in the red wave three.

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

Funnymentals

The RIF Token is intended to allow any token holder to consume decentralized infrastructure services that are compatible

About the author: Markus Aarnio
I have 20 years of investing experience. I have traded stocks, commodities, cryptocurrencies, and forex markets.

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