DECENT (DCTBTC) 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, DECENT began a wave one advance on March 18. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 14, and the red wave two (blue sub-waves a-b-c) correction ended on June 13. If this wave count is correct, DECENT should be heading next towards the May 14 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Looking at the weekly chart, I believe DECENT is currently in the red wave three (blue sub-wave iii). The red wave three began on March 18.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
DECENT is a blockchain content distribution platform. DECENT published a Q&A about the future plans in May.
(Sources: https://decent.ch/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "DECENT will takeout the May 14 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "DECENT will drop below the March 18 low".
If you think DECENT is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "DECENT will stay in a trading range between the March 18 low and the May 14 peak until July 22".
You can upvote the comment until 3 PM EST June 19 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
Bonus
I will be sending one Trophy Token (@trophy-token) to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.
DECENT will takeout the May 14 peak (14 voters as of 3 PM EST June 19: bleujay, lydon.sipe, bentleycapital, freiheit50, komischername, crokkon, jznsamuel, koskl, barbadosso, cryptotem, punjolife, utkarshvarma, andy23, cosminblaga).
DECENT will drop below the March 18 low (21 voters as of 3 PM EST June 19: sqlinsix, allyouneedtoknow, gregory-f, skepticology, glennolua, positivebalances, ace108, mgood, steemit.nemesis, vicspics, milano1113, steemcollator, themovieplace, liberton, karadere, askeb, sporttr, ragnaros, marverick984, mitrado, nzl19500).
DECENT will drop below the March 18 low
You won.
DECENT will stay in a trading range between the March 18 low and the May 14 peak until July 22 (34 voters as of 3 PM EST June 19: simonjay, abh12345, misalen, toofasteddie, reconnectnature, kunschj, ahinga, costanza, starline, lucasgabd, steem-d-anlovnit, diogosantos, rothberg, nicolaepavelean, mirda, trincowski, galasek, gospo, richard78624, mike11, allmonitors, amity123, portillo, coolthings, borban, nordina, biomanu, pario, techlife, chotho, photoquote, mihail.tsvetkov, funnel, colon2018).
I think this one is flatlining... I have a few of these but it's not one of my main bets. I just bought a couple of crumbs because I liked the project. :-P
Hope it will stay in the trading range. Most of them do, so I might be lucky.
Despite the fact of losing a lot of value since the beginning of this month, I think Decent has all the conditions to bounce back up, but it will depend a lot on how BTC evolves.