Crypto Contest March 1: Ripio Credit Network

Ripio Credit Network (Binance: RCNBTC) has broken out of the triangle pattern in the weekly chart.

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

Elliott Wave Analysis

In Elliott Wave terms, RCN began a wave one advance in August 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in October 2018, and the red wave two (blue sub-waves a-b-c) correction ended in January this year. If this wave count is correct, RCN should be heading next towards the October 2018 peak in the red wave three.

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

Funnymentals

Ripio Credit Network is a global credit network based on cosigned smart contracts. Proof Suite reviewed

About the author: Markus Aarnio

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