Waves (WAVESUSD) has broken out of the triangle pattern in the four-hour chart.

[![nimet_n.png](https://s18.postimg.org/k792czvdl/nimet_n.png)](https://postimg.org/image/60tbhrkid/)

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

**Elliott Wave Analysis**

In Elliott Wave terms, Waves began a wave one advance on November 2, 2017. The red wave one finished on November 9, 2017, and the red wave two correction ended on November 12, 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on December 19, 2017, and the red wave four correction ended on December 22, 2017. If this wave count is correct, Waves should be heading next towards the December 19, 2017 peak in the red wave five.

[![nimet_n.png](https://s18.postimg.org/ej7tj8ki1/nimet_n.png)](https://postimg.org/image/ne8ntr9ad/)

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

Zooming out in the daily chart, I believe Waves is currently in the red wave three (blue sub-wave v). The red wave three began on November 2, 2017.

[![nimet_n.png](https://s18.postimg.org/4lwsqgfjt/nimet_n.png)](https://postimg.org/image/ralzq0wxh/)

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

Looking at the weekly chart, Waves is most likely in the red wave five (blue sub-wave iii).

[![nimet_n.png](https://s18.postimg.org/nr020du9l/nimet_n.png)](https://postimg.org/image/creuos3ud/)

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

**Funnymentals**

Waves is a crypto-platform for asset/custom token issuance, transfer and trading on blockchain. Here is the official introduction video of the platform.

<iframe width="560" height="315" src="https://www.youtube.com/embed/3pjMueirxGU" frameborder="0" gesture="media" allow="encrypted-media" allowfullscreen></iframe>

(*Sources: https://wavesplatform.com/ and [YouTube](https://www.youtube.com/channel/UCYDQN4Fo4rGnOZ22L5plNIw)*)

[![nimet_n.png](https://s8.postimg.org/f8i0ggpit/nimet_n.png)](https://postimg.org/image/4lo7b1hdd/)

If you think this analysis is correct, upvote this post and upvote the comment "Waves will takeout the December 19, 2017 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Waves will drop below the November 12, 2017 low".

If you think Waves is in a range, upvote this post and upvote the comment "Waves will stay in a trading range between the November 12, 2017 low and the December 19, 2017 peak until February 9".

You can upvote the comment until 3 PM EST January 10 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).

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