Crypto Contest June 25: BTU Protocol

BTU Protocol (Bittrex: BTUBTC) 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, BTU began a wave one advance on May 13. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 9, and the red wave two (blue sub-waves a-b-c) correction ended on June 22. If this wave count is correct, BTU should be heading next towards the June 9 peak in the red wave three.

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

Funnymentals

BTU Protocol disrupts the current booking business model with decentralized processes, less middlemen and fairer commissions. You can watch their

About the author: Markus Aarnio

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