Crypto Contest May 4: Cred

Cred (Huobi: LBAETH) has broken out of the triangle pattern in the four-hour chart.

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

Elliott Wave Analysis

In Elliott Wave terms, Cred began a wave one advance on February 19. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 24, and the red wave two (blue sub-waves a-b-c) correction ended on May 3. If this wave count is correct, Cred should be heading next towards the April 24 peak in the red wave three.

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

Funnymentals

With Cred you can save your crypto assets, earn interest and borrow. There are more details in the official

About the author: Markus Aarnio

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