BitShares (BTS) Correction Pathway....A Healthy Dose!
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SUMMARY
Bitshares (BTS) is correcting and I present two pathways. The first is a classic a,b,c correction which would retrace to the prior wave 4 zone. The below chart shows the wave c as sublabeled into its five waves. As I've always said, the best time to buy is at the end of an a,b,c correction. Thus, subdividing the terminal c wave allows precision casting of buy ladders.
The below shows my alternate on how this correction coudl unfold. Don't forget that cryptos always love triangles. So when in doubt as to which pattern might be likely....think triangle. I've labeled the a,b,c,d,e subwaves.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
Excellent analysis! Thanks for your work.
Thank you, master, very interesting analysis.
Best regards NSC
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AEX.com +
source: https://steemit.com/bitshares/@steempower/bitshares-state-of-the-network-20th-december-2017
BTS price should (more less) follow bitCNY marketcap
Feel the Burn Sanders !!
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A lot of great news coming out about BitShares. Hopefully the correction is quick and painless so we can get back on track and land on the moon!
If you have a quick minute, watch this podcast. Came out today.
https://steemit.com/bitshares/@bluerocktalk/exclusive-breaking-news-in-bitshares-with-stan-larimer#@letmesee/re-bluerocktalk-exclusive-breaking-news-in-bitshares-with-stan-larimer-20171221t140738004z
bitshares has a lot of good news in the pipeline, which will keep upward pressure on the price. Hodl !
Hey dave...let me know if you have any questions...the only thing im still trying to figure out is creating your own assets and borrowing , but everything else im pretty cool with..i was on their telegram site and they mentioned they were going to integrate trading view charts and many other things so i think 2018 will be a good year...i've watched the volume for months and months and i have to say the liquidity has increased substantially....cheers friend
That would rock the House if they integrate trading view charts!
For borrowing, just go into: Dashboard->Margin Positions->bitUSD then set your collateral level. I've always done 4x. And, of course, understand that you will be margin called if the BTS price falls below the Call Price.
No doubt , hopefully they get on it ASAP!
That's some really great news. Some more volumes and more coins like Binance and I'll be a migrated person (into BTS).
Yeah you bring up a really good topic Vimukthi...they have some really good coins, but as soon as they start supporting more we will see even more people move over
Binance had a good UX, ok volume and a bunch of coins with so much potential that no exchange had bothered to list (WTC, SONM, Bytom, Hcash, Tron(They even had an in-exchange ICO-which was refunded after the China ban.))
More coins with great potential is the most important factor. When there are lots of trading options and low fees, volume will naturally grow.
Very good point...i didn't include this in all of my posts...in fact I've had to transfer BTC out of the DEX just so i could invest in other coins...Binance really knocked it out of the park by the way they did things...really really impressed
Hey Shawn maybe you can help me out. I sold some BTS today and it sits in BitUSD. How do I get that converted to USD? Thank you
Sure yetti...sorry for the late response...ok so you first have to go to the deposit page by clicking on the drop down menu at the top right corner of the page...this takes you to the gateway page where you can deposit and withdraw coins from other exchanges and also set up FIAT...you have to submit your information for KYC verification and enter your bank info...they will send you a confirmation email letting you know that you are approved...then go to the find markets tab and type in open.USD to find the open.USD from open ledger...buy open.USD using your BitUSD balance...then on the same gateway deposit /withdrawal page click on withdrawal and choose how much open.USD you want to withdrawal and the USD will be deposited into your bank account...hope this helps friend
im going to HODL. but i still don't like their interface. They better start upgrading on it so we can all MOON
I fully agree with you.. Hopefully there is a strategy behind it and will they upgrade the UI soon!
The UI is definitely being updated. It's had 2 updates in the past month that were great improvements and many more are on the way!
It works ! I bought steem by sending BTC to the Steem wallet which automaticly is converted to STEEM and then converted Steem to SteemPower ! and now I see the $ increase when I Upvote ! People add STEEM POWER and support Haejin !
PLEASE UPVOTE MY POST FOR HAEJIN ITS DOWN BELOW I GIVE ALL MY STEEM MONEY TO HIM. I FOUND ALL BERNIES ROBOT ACCOUNTS AND LISTED THEM SO PEOPLE CAN FLAG HIS ACCOUNTS SO HE LOOSES MONEY AND WILL STOP ATTACKING HAEJIN. BUT NOBODY CAN SEE IT BECAUSE BERNIE ATTACKED IT WITH HIS ROBOT. IF I GET MORE UPVOTES PEOPLE WILL SEE IT AND THEN START FLAGGING BERNIES STUFF SO HE WILL STOP ATTACKING HAEJIN
At last I can post! Its taken weeks to get a steemit account from the UK.
First off - a BIG thank you to Haejin for your work. It's much appreciated.
Hmm....... all this talk of a crash in alts due to a bitcoin correction.
Has anyone noticed bitcoin has already fallen $4000 which has occurred roughly from the 17th Dec onwards. In that time, BTS initially dipped, then recovered and moved overall from 45c to 56c.
If this is the effect of a bitcoin correction why is it right this time to sell?
Bitcoin going through a massive correction should mean all ALTCOINS will gain. Where else will Bitcoin profit takers put there cash? In Altcoins IMO.
wrong, in tether or other crypto, which value always equates to 1usd