Crypto Contest June 18: BABB

BABB (KuCoin: BAXUSDT) 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, BAX began a red wave one advance on April 23. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on May 7 and the red wave two (blue sub-waves a-b-c) correction ended on May 23. If this wave count is correct, BAX should be heading next towards the May 7 peak in the red wave three.

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

Zooming out in the line chart, I believe BAX is currently in the red wave three (blue sub-wave iii). The red wave one began in December 2020 and the red wave two correction ended on April 23 this year.

(Chart courtesy of CoinMarketCap.com)

Funnymentals

Babb is using technology to bypass traditional banking networks and expensive 3rd parties to facilitate borderless P2P transactions across the globe. UNDERDOG CRYPTO reviewed the project back in April this year.

(Sources: https://getbabb.com/)

How Will BABB Trade?

BABB (KuCoin: BAXUSDT) daily chart by Tradingview.

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

Prizes

I will be giving upvotes to the correct answers with minimum reputation of 25.

Rules

This poll will expire in one week. Only one vote per person.

Which one will happen first?

Please select one of the three choices and comment below.

BAX will takeout the May 7 peak

BAX will drop below the April 23 low

BAX will stay in a trading range between the April 23 low and the May 7 peak until July 25

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92 Comments