Crypto Contest October 24: DeepBook Protocol

DeepBook Protocol (Bybit: DEEPUSDT) 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, DEEP began a red wave one advance on October 14. The red wave one peaked on October 15 and the red wave two correction ended on October 16. The red wave three (blue sub-waves i-ii-iii-iv-v) finished on October 21 and the red wave four (blue sub-waves a-b-c) correction ended on October 22. If this wave count is correct, DEEP should be heading next towards the October 21 peak in the red wave five.

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

Funnymentals

DeepBook Protocol is a premier decentralized liquidity layer for builders, traders, and the broader DeFi community, exclusively on SuiNetwork. Full Value Dan reviewed the project two weeks ago.

(Sources: https://deepbook.tech/)

How Will DeepBook Protocol Trade?

DeepBook Protocol (Bybit: DEEPUSDT) four-hour chart by Tradingview.

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

Prizes

I will be giving upvotes to the correct answers (posts only).

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

DEEP will takeout the October 21 peak

DEEP will drop below the October 16 low

DEEP will stay in a trading range between the October 16 low and the October 21 peak until November 29

Posted Using InLeo Alpha