Crypto Contest June 27: Maker

Maker (Bitfinex: MKRUSD) 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, Maker began a wave one advance on December 7, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 2 this year, and the red wave two (blue sub-waves a-b-c) correction ended on April 26. If this wave count is correct, Maker should be heading next towards the April 2 peak in the red wave three.

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

Funnymentals

Maker is a Decentralized Autonomous Organization (DAO) that manages the Dai Credit System on the Ethereum blockchain. For

About the author: Markus Aarnio

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