Crypto Contest January 31: Hegic

Hegic (Binance: HEGICBUSD) 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, HEGIC began a red wave one advance on December 29, 2020. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on January 23 and the red wave two (blue sub-waves a-b-c) correction ended on January 29. If this wave count is correct, HEGIC should be heading next towards the January 23 peak in the red wave three.

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

Zooming out in the daily line chart, I believe HEGIC is currently in the red wave three (blue sub-wave iii). The red wave one began on September 22, 2020 and the red wave two correction ended on December 29, 2020.

(Chart courtesy of CoinMarketCap.com)

Funnymentals

Hegic is an on-chain peer-to-pool options trading protocol built on Ethereum. mrmasa reviewed the project two weeks ago.

How Will Hegic Trade?

Hegic (Binance: HEGICBUSD) daily chart by Tradingview.

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

Prizes

I will be giving upvotes to the correct answers.

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.

HEGIC will takeout the January 23 peak

HEGIC will drop below the January 11 low

HEGIC will stay in a trading range between the January 11 low and the January 23 peak until March 9