Crypto Contest June 21: Telcoin

Telcoin (HitBTC: TELETH) 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, Telcoin began a wave one advance on February 21. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on March 30, and the red wave two (blue sub-waves a-b-c) correction ended on June 17. If this wave count is correct, Telcoin should be heading next towards the March 30 peak in the red wave three.

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

Funnymentals

Telcoin connects existing mobile money platforms to the decentralized financial system of the future, beginning with a globally marketed remittance service

About the author: Markus Aarnio

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