Crypto Contest March 21: Smartshare

Smartshare (Huobi: SSPBTC) 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, Smartshare began a wave one advance on November 5, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 27 this year, and the red wave two (blue sub-waves a-b-c) correction ended on March 8. If this wave count is correct, Smartshare should be heading next towards the January 27 peak in the red wave three.

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

Funnymentals

Smartshare is a blockchain-based IoT ecosystem with 150,000 smart devices connected. You can view their official introduction video

About the author: Markus Aarnio

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