Crypto Analysis Spotlight 2017.12.25 – BitShares, engine up!

Bulltrend in BTSBTC

There has been a large increase in bitshares value. This has given the illusion of an uptrend. This was initially confirmed by some volume, but this activity has died down.

I think the price will be flat or see some decreases in the near future and we should wait for the correct to enter.

I repeat, as I am still not sure this is a definitive move upwards I am waiting.

Confirming the observation using the RSI

The RSI is currently still 79 and which means that the stock is overbought and in a decrease in price is to be expected. As before, RSI is a helpful indicator which in this case it is useful as a recommendation not to buy.

The prediction

I currently recommend selling the position completely. The upside will subside.

Till next time,
Tinus

** Images courtesy of tradingview.com