Bitshares done with the C wave?
hello everyone!
After a 6 week long markt crash of cryptocurrencies, I thing we are at the end of what we call "an ABC-correction".
An ABC-correction for those who dont know is a downtrend that can take a pretty long time and falls in 3 "waves".
The first wave (A) starts at the very top of the past bull-run (=uptrend), mostly heading down pretty fast.
The second wave (B) starts logically at the bottom of (A) and heads up pretty fast as well, ending mostly around halfway up the (A).
The third wave (C) pul back down again, does it often a bit slower then A and B but seeks much lower points of value..
We think in this case with BTS we will hold our major resistance because its strong, and we have some nice patterns.
Bitshares is starting to find the nose of his descending wedge right now, what means don't take action yet.
keep an eye on our major resistance. If it breaks down, it will continue to fall lower, and we will have ourselfs a bargain on BTS.
If we break the descending wedge on the upside you will have yourself a nice trade...
TRADE: medium risk
BUY: 0.00003500
SL: 0.00003000 (-13.5%)
TP1: 0.00005500 (+57%)
TP2: 0.00007000 (+100%)
TIME: 2-3 weeks..
If you found this usefull then please hit that like button and follow our page :)
Profitable Regards,
Perspect.
After a 6 week long markt crash of cryptocurrencies, I thing we are at the end of what we call "an ABC-correction".
An ABC-correction for those who dont know is a downtrend that can take a pretty long time and falls in 3 "waves".
The first wave (A) starts at the very top of the past bull-run (=uptrend), mostly heading down pretty fast.
The second wave (B) starts logically at the bottom of (A) and heads up pretty fast as well, ending mostly around halfway up the (A).
The third wave (C) pul back down again, does it often a bit slower then A and B but seeks much lower points of value..
We think in this case with BTS we will hold our major resistance because its strong, and we have some nice patterns.
Bitshares is starting to find the nose of his descending wedge right now, what means don't take action yet.
keep an eye on our major resistance. If it breaks down, it will continue to fall lower, and we will have ourselfs a bargain on BTS.
If we break the descending wedge on the upside you will have yourself a nice trade...
TRADE: medium risk
BUY: 0.00003500
SL: 0.00003000 (-13.5%)
TP1: 0.00005500 (+57%)
TP2: 0.00007000 (+100%)
TIME: 2-3 weeks..
If you found this usefull then please hit that like button and follow our page :)
Profitable Regards,
Perspect.
Note
Hope we can hold our support here..If not wait for new support. I'll update on that too..
If we hold support, wait for it to break resistance..
Note
Seems like we're holding support. wait for the volume to come in before entering trade..Note
broke support!wait for reversal pattern.
wait for further pricedrop.
i'll keep you updated..
;)
Note
Seems we are holding support at 0.00002000.New buy zone: if we close a day candle abowe 0.00002700 put buy order @ 2800
Take profit 1: 0.00004800
Take profit 2: 0.00006000
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.