Bytecoin (BCNXMR) has broken out of the triangle pattern in the daily chart.
![nimetön.png](https://ipfs.busy.org/ipfs/QmZnxC513DU9PebWXWd8FigHsRxRVJGQhQzBX2nefV8Ja5)

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

**Elliott Wave Analysis**

In Elliott Wave terms, Bytecoin began a wave one advance on March 3. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 8, and the red wave two (blue sub-waves a-b-c) correction ended on July 23. If this wave count is correct, Bytecoin should be heading next towards the May 8 peak in the red wave three.
![nimetön2.png](https://ipfs.busy.org/ipfs/Qmco6Xz4byiYGoS6BEk66xakRsuNfQa4DwdCRB2y5nAssr)

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

Looking at the weekly chart, I believe Bytecoin is currently in the red wave three (blue sub-wave iii). The red wave three began on March 3.
![nimetön3.png](https://ipfs.busy.org/ipfs/QmY9NBkx9sJxxw3EXisQU88wZgvqvecana8SsNaY3XgnFM)

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

**Funnymentals**

Bytecoin is one of the privacy coins. Cryptocurrency News gave his take on the coin on August 7.

https://youtu.be/IeWjv6x1qwk

(*Sources: https://bytecoin.org/ and [YouTube](https://youtu.be/IeWjv6x1qwk)*)
![steemverify.png](https://ipfs.busy.org/ipfs/QmdAfzq4zLE9mrf92TnPADBptzixPXcJ68h8piptCZoCed)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bytecoin will takeout the May 8 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bytecoin will drop below the March 3 low".

If you think Bytecoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bytecoin will stay in a trading range between the March 3 low and the May 8 peak until September 15".
![nimetön4.png](https://ipfs.busy.org/ipfs/QmSJWTURYJ79pVmbpoB5hayejRfCRExvFtxWNW82EEMSFP)

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

You can upvote the comment until 3 PM EST August 14 and you can upvote only one comment. 50% of liquid STEEM + 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.