Crypto Contest March 14: Gulden

Gulden (Bittrex: NLGUSD) 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, Gulden began a wave one advance in June 2014. The red wave one finished in September 2014, and the red wave two correction ended in August 2015. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished in January 2018, and the red wave four (blue sub-waves a-b-c) correction ended in February this year. If this wave count is correct, Gulden should be heading next towards the January 2018 peak in the red wave five.

(Chart courtesy of Tradingview.com

About the author: Markus Aarnio

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