Crypto Contest May 3: Arcblock

Arcblock (Huobi: ABTBTC) 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, Arcblock began a wave one advance on January 28. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 12, and the red wave two (blue sub-waves a-b-c) correction ended on April 25. If this wave count is correct, Arcblock should be heading next towards the April 12 peak in the red wave three.

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

Funnymentals

ArcBlock is a platform and an ecosystem for building and deploying decentralized blockchain applications. Decentralize Me interviewed Tyr Chen, VP of

About the author: Markus Aarnio

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