BitShares TA Update
It looks to me like BTS may have found a new “low end” to bounce from, or at least to base and consolidate. The daily chart shows price bouncing a second time from important IT horizontal support (after a spike low test of major horizontal support and the 200 DMA). Relative volume is falling on red days and rising on green days. Nevertheless, price may be capped by MA and spike high resistance.
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The 4 hour chart looks encouraging, with a bullish 20-50 cross and up-trending Bollinger Bands, but the overhead resistance is still there, just with the 200 SMA looming at .55.
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And the 1 hour looks like a breakout that is currently backtesting and consolidating.
Time will tell, but I’d give the best odds to a range between .28ish and 49ish, and maybe a 20% chance of either a sustained break above .5 or below .2
An accumulation range so smart money can get onboard at a decent price?
TA is awesome because it's subjective and everyone see things from different perspectives. The more TA analysis you research, the more confident you can be in your own trading decisions.
BTS is currently trading in the PWSH range from last May/June. This is the level I'm watching for the 40-50c range. BTS has bounced off trendline support and trading back within the PWSH range. It's a pretty wide range and I could see BTS being range-bound for a few weeks before continuing higher.
@cryptographic If BTS breaks below 20c, are you buying more?
Those look like good round numbers. We've got up into the .55 area, where we saw some selling, and now price is moving back up to challenge again. I'm looking to buy back on pullbacks down in the low 30s and mid-20s, but I'm not holding my breath. 😕
.55 resistance on the 4HR chart is a big deal. Good time to take some profits there.
It most certainly looks like price is confirming that resistance level!
Thank you for the technical update.
Honestly, I am mixed. I want BTS to take off and make us all rich...but I have some powder sitting there ready....I would love another dip back into the low 20s....I would pile in for some more.
Actually I would settle for another batch at around $.30.
Time to really start looking deeper into BTS. My posts have been about STEEM so far....time to mix in some BTS research...
Both are looking very good.....in my ultra biased opinion, I think we have a couple good ones here.
I know what you mean. I'd be buying a pullback, and I think a pullback is possible, but that doesn't mean it will.
Yes, BitShares is right up there on par with STEEM, and just like you, I've got a lot of backlogged homework to do. 😓
Yes backlogged is the right word.
Did you see this? I am not sure what to make of the entire situation.
https://steemit.com/ico/@droucil/arisebank-just-got-shut-down
Saw this a while ago, it was only Texas and @stan didn't seem too worried about it
Curious as to your crypto portfolio allocation. If you don't mind me asking.
I'm such a rookie I bought in at .45 and .63 and was feeling pretty good about it when we were trading above .80 haha, you guys probably got in at .01 or something ;)
Those are pretty much my entries but I averaged down one more time around 25c. I'm avg in around 0.43 now.
Ya, nice, my average is a bit higher, probably like .55, I should really keep track of my entry points better...
I really like bitshares , bitshares has very big potential because it is more than a coin, it has lots of properties.It is a DEX(decentralized exchange), It has bitUSD,bitEUR,bitCNY etc... and also bitUSD and all of this fiats are decentralized.Every body can create an asset easly with this platform.Lots of people has not discovered all futures of bitshares yet.Bitshares is more then currency.I think that bitshares will go upto 10 $ or more at the end of this year.Thanks for chart and please keep updating us through your TA
In terms of undiscovered potential, BitShares is just as big as STEEM! In my opinion, they are both members of a very select club that still have 100x possibilities.
@cryptographic,
I am not a genius graph analysis! By looking at this chart I understood 1D, 4H, 1H - in all indicators MA says BULL TREND! Wow thanks to you, I decided to invest on BTS in last dip (crypto storm happened few weeks ago) time! Now it becomes a worthy investment and I will not sell them in this year! HODL is the passion of mine :D
Great analysis friend! This is another valuable analysis from you and hope to hear about EOS as well!
Cheers~
EOS is looking strong, but I'm going to wait and hopefully pick some up in the $7-$9 range somewhere down the road.
@cryptographic,
Ha ha ha that would be a good news! I will also call a buy at that level! Excellent tip! Thank you!
Cheers~
I probably should buy BTC, but I don't think I'm going to. I feel like the market will go up with it, it does seem due for a pump in the coming weeks or couple months though, not sure how to proceed, because I like other coins better, but it's BTC... thank you for th info regardless
Keep an eye on that institutional money that's looking to get in, and also keep in mind that it might be getting more interested in alternatives to Bitcoin as well.
That's where I'm at, I'm more interested in some of the very strong looking alts kind of figuring they will rise if BTC does anyways, but I'm fairly new to it all, I've got some BTS but bought in much later than most I bet haha!
Indeed it was the time for BitShares to consolidate and start grow again. Recently it was ahead of Steem with and now it sits back of it with around 6 places. Anyway considering that most of the other crypto are facing corrections right now, BitShares is doing pretty good.
Always nice to see relative strength, and especially when the general market is under pressure. It's very often a good indicator for future success.
Good observation, I always thought that in a bearish market, the best buy is the coin who goes down the most, because it is volatile and it will rise more, but your point is good! If a coin does not go down so much in a bearish market, it means that it has potential and on the long term it may be a good investition
It does look like it's really looking for a signal to go one way or the other... and increase in volume might be what everyone is waiting for. The whole crypto market at the moment feels like everyone is just waiting on the sidelines watching to see what everyone else is going to do.... like a high school dance. We just need that one brave soul to go in and start the ball rolling.
Regardless... it's pretty exciting! Let's go up BTS!
I agree that indecision is the tonic for the day. It could be accumulation; I'd say that's more likely than distribution, but there's always the possibility of a break lower.
I think that before we reclaim the 8-day EMA and the 50-day EMA , we should wait ( if we consider it a trade) This is a obvious long-term HODL!
However I would really like to see some strenght on volume, before I buy. We see the false breakout on volume on the 1H chart, but after that when the volume dries up, there is no one to defend the breakout. Also this breakout coincides with BTC's breakout, so it might be just FOMO buying.
Well, we're holding pretty well, and well above both the 8 and 50 EMAs with a possible bullish 8-50 cross on deck today, and with price consolidating in the upper half of the Bollinger Bands. As you say, volume is a little lackluster though.
STEEM
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current price:
6.0313 USD
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24 hour volume: 228590000.0 USD
24 hour percent change: -7.09%
market cap: 1492711731.0 USD
SBD
current rank: 266
current price:
6.45995 USD
0.00059508 BTC
24 hour volume: 27441900.0 USD
24 hour percent change: -9.66%
market cap: 46342979.0 USD
yes i agree with you but
im happy to invest in steem crpto ^^