Crypto Contest March 23: Machine Xchange Coin

Machine Xchange Coin (Huobi: MXCBTC) 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, Machine Xchange Coin began a wave one advance on December 30, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 8 this year, and the red wave two (blue sub-waves a-b-c) correction ended on March 22. If this wave count is correct, Machine Xchange Coin should be heading next towards the January peak in the red wave three.

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

Funnymentals

Machine Xchange Coin is inspiring fast, efficient, decentralized data exchanges using LPWAN -blockchain

About the author: Markus Aarnio

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