Ion (IONUSD) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Ion began a wave one advance on February 20. The wave one finished on April 20, and the wave two correction ended on June 2. The wave three advance finished on September 9, and the wave four correction ended on September 15. If this wave count is correct, Ion should be heading next towards the September 9 peak in the wave five.
(Chart courtesy of Tradingview.com)
One can see the waves even better in the line chart.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Ion will takeout the September 9 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Ion will drop below the June 2 low".
If you think Ion is in a range, upvote this post and upvote the comment "Ion will stay in a trading range between the June 2 low and the September 9 peak until November 13".
You can upvote the comment until 3 PM EST October 14 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).
Ion will drop below the June 2 low (2 voters as of 3 PM EST October 14: lasper, gunsmithing).
Ion will takeout the September 9 peak (16 voters as of 3 PM EST October 14: bleujay, bentleycapital, gregory-f, spinbunny, incrediblesnow, damla, reconnectnature, anetchen, mprgrmmr, heroic15397, digitalking, cassidyandfranks, barcalogia, amfid4846, mnrdev, abay).
Ion will stay in a trading range between the June 2 low and the September 9 peak until November 13 (25 voters as of 3 PM EST October 14: twinner, soundmoney, lucasgabd, flemingfarm, simonjay, yefet, catena, eirik, psywalker, starline, tzap90, komischername, mirda, coolthings, crokkon, ahinga, ragnaros, carlosdaniel, andy23, allmonitors, richard78624, kryptofan, mihail.tsvetkov, freskil, me-do).
You won.
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img credz: pixabay.com
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