Crypto Contest May 9: QunQun

QunQun (Huobi: QUNBTC) 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, QunQun began a wave one advance on January 28. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 25, and the red wave two (blue sub-waves a-b-c) correction ended on May 5. If this wave count is correct, QunQun should be heading next towards the April 25 peak in the red wave three.

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

Funnymentals

QunQun is a blockchain-based incentive community platform. You can read their latest weekly report here.

(Sources: QunQun and Medium)

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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.