Crypto Contest September 7: Dragon Coins

Dragon Coins (HitBTC: DRGBTC) 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, Dragon Coins began a wave one advance on August 19. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on August 30, and the red wave two (blue sub-waves a-b-c) correction ended on September 5. If this wave count is correct, Dragon Coins should be heading next towards the August 30 peak in the red wave three.

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

Zooming out in the daily chart, I believe Dragon Coins is currently in the red wave three (blue sub-wave iii). The red wave three began on August 19.

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

Funnymentals

Dragon is a blockchain solution for the entertainment industry. You can watch the economics of Dragon Coin below.

(Sources: Dragon Coins and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

About the author: Markus Aarnio

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