Crypto Contest June 29: V Systems

V Systems (Bitfinex: VSYBTC) 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, V Systems began a wave one advance on January 18. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on March 28, and the red wave two (blue sub-waves a-b-c) correction ended on May 14. If this wave count is correct, V Systems should be heading next towards the March 28 peak in the red wave three.

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

Funnymentals

V Systems is the blockchain database cloud by Sunny King, creator of PoS. You can watch their introduction

About the author: Markus Aarnio

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