BitShares (BTS): Short Term & Longer Term Perspectives

SUMMARY

I hope you've all had an enjoyable and memorable holidays! While we were merrying; the cryptos never slept!
NOTE: If this Blog post gets downvoted; @ranchorelaxo has our backs!!

Below is the chart of Bitshares (BTS) and the pattern is that of an a,b,c,d,e ascending right triangle. As of now, if the slight piercing of the bottom triangle represents a bull wick; then price should see higher highs.

However, the daily chart with the MACD indicator looks a bit toppy. BTS has had a near vertical run since $0.19 cents and MACD is showing that it could require some rest. The blue circle highlights the area of MACD to indicate a level of overbought state. If so, a correction could occur to alleviate this overbought state in the MACD.

Below shows the BTS/BTC pair and little has changed since the last update. IF Bitcoin (BTC) still contiues to correct or if the demand for BTS/BTC outstrips the rate of rise in BTC; then the very large cup portion should finish at around the 12,290 Satoshi level.

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BTC Wallet - 1BWkKDdY26M2XEFmLAmKnu7safVuqt2HBh
ETH Wallet - 0xf90000c7683044f5a17ff2e3eaa3fc7492c73fef
LTC Wallet - LexwAfZzXvhu9puUr2YXhwg3h7jPqSh3yQ

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.**