BitBay (BAYUSD) has broken out of the triangle pattern in the daily chart.

https://s1.postimg.org/3orqztrf8v/nimet_n.png

(*Chart courtesy of Tradingview.com*)

In Elliott Wave terms, BitBay began a wave one advance on January 11. The red wave one finished on February 9, and the red wave two correction ended on March 10. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on June 24, and the red wave four (blue sub-waves a-b-c) correction ended on July 16. If this wave count is correct, BitBay should be heading next towards the June 24 peak in the red wave five.

https://s1.postimg.org/5timbd6xq7/nimet_n.png

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

One can see the Elliott Waves even better in the line chart.

https://s1.postimg.org/1xut7q43wf/nimet_n.png

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

Looking at the weekly chart, I believe BitBay is currently in the red wave three (blue sub-wave v).

https://s1.postimg.org/8slp51pwvj/nimet_n.png

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

https://s17.postimg.org/7zbxkykfz/maarnio.png

If you think this analysis is correct, upvote this post and upvote the comment "BitBay will takeout the June 24 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "BitBay will drop below the July 16 low".

If you think BitBay is in a range, upvote this post and upvote the comment "BitBay will stay in a trading range between the July 16 low and the June 24 peak until November 4".

You can upvote the comment until 3 PM EST October 5 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).