Crypto Contest June 18: Skycoin

Skycoin (Binance: SKYBTC) 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, Skycoin began a wave one advance on May 14. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 31, and the red wave two (blue sub-waves a-b-c) correction ended on June 16. If this wave count is correct, Skycoin should be heading next towards the May 31 peak in the red wave three.

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

Funnymentals

Skycoin fuels an entire ecosystem of applications including the new de-centralized internet called Skywire that empowers users to earn coins for

About the author: Markus Aarnio

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