Crypto Contest March 28: BitSend

BitSend (Bittrex: BSDUSD) 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, BitSend began a wave one advance in February 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in January 2018, and the red wave two (blue sub-waves a-b-c) correction ended on March 4 this year. If this wave count is correct, BitSend should be heading next towards the January 2018 peak in the red wave three.

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

Funnymentals

BitSend is digital cash with masternodes. You can view the masternode stats below.

(Sources: BitSend and Masternode)

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About the author: Markus Aarnio

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