SPINDLE (HitBTC: SPDETH) 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, SPINDLE began a wave one advance on August 20. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on August 26, and the red wave two (blue sub-waves a-b-c) correction ended on September 4. If this wave count is correct, SPINDLE should be heading next towards the August 26 peak in the red wave three.

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

Funnymentals

SPINDLE is a match-making platform for private investors and cryptocurrency funds. You can find their white paper here.

(Sources: SPINDLE and White Paper)

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Published by Maarnio

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