Crypto Contest March 24: HitChain

HitChain (Huobi: HITUSDT) 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, HitChain began a wave one advance on December 8, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on December 24, 2018, and the red wave two (blue sub-waves a-b-c) correction ended on February 7 this year. If this wave count is correct, HitChain should be heading next towards the December 24, 2018 peak in the red wave three.

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

Funnymentals

HitChain hopes to surpass GitHub as the largest open-source platform by applying blockchain technology for a

About the author: Markus Aarnio

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