Crypto Contest January 30: Ethos

Ethos (Binance: BQXETH) has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Ethos began a wave one advance on January 5. The red wave one finished on January 13, and the red wave two correction ended on January 14. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on January 18, and the red wave four (blue sub-waves a-b-c) correction ended on January 28. If this wave count is correct, Ethos should be heading next towards the January 18 peak in the red wave five.

(Chart courtesy of (log scale))

Crypto market signals stability

Whereas investor confidence was wavering and unpredictable during the 2018 bear market, 2019 is showing us a stable market which has so far supported sustainable growth.

From a bullish perspective this is a positive sign – and one which is hardly surprising. For the past year I have been attacking bearish sentiment on all fronts: the inane mentality that sells a long-term hold for short-term profit (akin to selling Microsoft shares in the early ’80s), negative sentiment towards crypto – a disruptive revolution in international finance, the total disregard of a plethora of positive and substantial 2018 crypto news etc.

I’ve given