ION (IONBTC) has broken out of the triangle pattern in the daily chart.
![nimetön.png](https://ipfs.busy.org/ipfs/QmQRnrFxbnP2gYfPTSPSEdDHTAB9SW76zxvVg8fNDogGBp)

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

**Elliott Wave Analysis**

In Elliott Wave terms, ION began a wave one advance on December 11, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 21 this year, and the red wave two (blue sub-waves a-b-c) correction ended on July 26. If this wave count is correct, ION should be heading next towards the January 21 peak in the red wave three.
![nimetön2.png](https://ipfs.busy.org/ipfs/QmdJZUWS3Rkwtuda7cNWvEmwQzgJufWFu4wnzGEoAjTSxi)

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

**Funnymentals**

ionomy.com is a platform for gaming and financial services, including web wallets, hosted masternodes, and tools to use, spend, or trade cryptocurrency winnings from ionomy Studios games. The rally today was caused by the following tweet.
![nimetön4.png](https://ipfs.busy.org/ipfs/QmV3uaiqUhkaZkqasU97kcqNUfw2xdqvPNVtKXWU98oHd1)

(*Sources: https://ionomy.com/ and [Twitter](https://twitter.com/ionomics)*)
![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) "ION will takeout the July 15 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "ION will drop below the July 26 low".

If you think ION is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "ION will stay in a trading range between the July 26 low and the July 15 peak until September 12".
![nimetön3.png](https://ipfs.busy.org/ipfs/QmVEm1HJ9KiZ46G2T8LVjMnBGKN5UVECw9M6TwcdueVYUk)

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

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