Crypto Contest June 9: FansTime

FansTime (Huobi: FTIBTC) has broken out of the triangle pattern in the four-hour chart.

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

Elliott Wave Analysis

In Elliott Wave terms, FansTime began a wave one advance on May 14. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 18, and the red wave two (blue sub-waves a-b-c) correction ended on June 5. If this wave count is correct, FansTime should be heading next towards the May 18 peak in the red wave three.

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

Funnymentals

FansTime is a vertical blockchain-based project focusing on the entertainment industry. You can view their intro video below.

(Sources: FansTime and YouTube)

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About the author: Markus Aarnio

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