Crypto Contest June 26: UTRUST

UTRUST (Bitfinex: UTKUSD) 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, UTRUST began a wave one advance on November 25, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 3 this year, and the red wave two (blue sub-waves a-b-c) correction ended on June 24. If this wave count is correct, UTRUST should be heading next towards the June 3 peak in the red wave three.

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

Funnymentals

According to their website, UTRUST is the world’s first cryptocurrency payment gateway to offer buyer protection, instant transactions

About the author: Markus Aarnio

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