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Bitshares

Bitshares VS Bitcoin Hitting The SupportToday Bitshares has reached 4/1 Gann Fan trendline, which at this stage has been rejected cleanly. Another major support is 161.8% Fibonacci retracement applied to the corrective wave up after breakout of the uptrend trendline. This is 2300 satoshis level, and previously price has rejected it. Perhaps the confirmation that BTS/BTC has found the bottom, would be the daily close above 2300 satoshis level. Then it is likely that the price will start moving up, potentially towards the upper trendline of the descending channel. But, if Bitshares daily close will be below the Gann Fan trendline, then the downtrend might continue and BTS/BTC could reach the 88.6% Fib support at 1700 satoshis area. Overall it is important to watch the low produced today, that is 2220 satoshis.
Long
by CryptoPAMM
2
$BTS #Bitshares - CUP & HANDLE - Entering the rockets!!! Hello Lads and Ladies, Toady we are taking a look at Bitshares - BTSBTC. On the daily chart it seems tobe forming a huge cup and handle formation. We are going to take a look at what is happening and what possibilities are there for BTSBTC. Basically, as every other coin in this space BTSBTC has seen a humungous push in December of last year. Taking this push into consideration we apply the fibonacci retracement. These lines of retracement have been respected very well throughout the whole period of time. As well as the middle in between of each of these lines have been playing a major role as supports and resistances. The starting point of the neckline is the beginning of February, when BTSBTC started a very heavy downtrend falling from 4000 satoshi all the way down to 1500 satoshi, where it has found its key support. Hitting this key support 3 times, it has started a beautiful rise up towards and over the 4000 satoshi line making almost 150% gains. Of course after such a huge push there has to be a health pullback which we are experiencing right now. Looking the chart formation pullback is the handle of the cup and handle formation and has been extended unnecessary due to the whole market taking a blood bath lately. It is very likely that it will continue to the 78.6% fibs line, since it is very near to it and would have a beautiful level of support from where it could make a big bounce and leave the handle and with start rocketing above the previous high of 4000 satoshi and also targeting the 6525 satoshi line. Taking a closer look at it we have to consider a second more bearish scenario because of the extended handle, which was failed to be left at the 61.8% fibs line. Based on that we have to see a big scale bounce to at least the 61.8% fibs line staring from the 78.6% fibs line. Otherwise, we will most likely see BTSBTC heading towards the key support of 1500 satoshi line, where it will most likely make a very huge bounce. Looking at the RSI I personally believe at a the bullish scenario after coming to the 78.6% fibs line. RSI is right now at around 45 points and would be in the 20 point area if it came down to the 78.6% fibs line pretty soon, from where it would have the best position to start the anticipated huge push that we are looking for. Anyhow, during the push I see it breaking the 61.8% fibs line, coming back to it and then continuing the push towards and above the 4000 satoshi line. Like and Follow me and you will find this page interesting because I am a TA expert and day trader that does daily updates and new posts about the hottest and most discussed coins. Fell free to request TA for ANY coin you are interested in!!! Cheers, Tomas
Long
by KongTrading
4
Bitshares Market UpdateThe BitShares/Bitcoin pair (BTS/BTC) started to show signs of bullishness in past April. With a bottom in place, buyers began to enter the buying scene. This started a strong rally from 0.00001782 to 0.00004438, on April 30. While the market has been retracing since then, this time could be a chance to buy the possible higher low. BTS/BTC dropped to 0.00002479 on May 24 and that was where bulls came to the marketplace. Their presence inspired a bounce to 0.00003817 on June 3. While the pair is currently correcting, this can be an opportunity to buy the confirmation of the support. BTS retraced to the 78% Fibonacci level, also near the lower Bollinger Band, at 2350 sat. Yesterday it closed above that level and currently is aiming the purple moving average at 2587. The strategy is to trade the retest, or, to buy the confirmation of support as close to 0.00002300 as possible. A retest refers to prices reversing direction after a break and returning to the breakout level to see if it will hold. In the case of a break to the upside, for example, after the initial wave of buying has run its course, prices may stall and trigger very short-term profit-taking selling. The tendency is for prices to return to the breakout level, which should now act as support and attract buying interest. If bulls can stay above this level, they may gather the momentum needed to climb to the next Fib level at 2797 satoshis. This idea can be invalidated if BTC trades below the 6200-6300 range.
BLong
by KiaCryptiola
Bitshares - correction analysisWyckoff theory says that after a decline in price (usually 5 waves down) you enter the accumulation phase. BTS shows this very clearly before the last bull run. We had a small accumulation phase followed up by a markup phase, distribution, and now mark down. I think we have a little lower to go but after we finish this I expect another accumulation phase with possible new ATH. July 4th - 18th would be a key time to watch out for movements in price.
POLONIEX:BTSUSDLong
by lemonsandshade
6
Bitshares - correction brings opportunity to BTFDBTS is to me probably the most undervalued token out there. The hype cycle still hasn't come in yet imo. Once this correction is over I don't think we will see these levels possibly ever again. I see a possible dip down to .78 fib and since we didn't get much of a bounce on the other fib levels I am expecting to see one once the price hits the next fib level. This could bring price to .14 to .16 cents. Something to be aware of. BTFD
Long
by lemonsandshade
8
BTS new 218% potentialBTS had a 50% retracement and jumped from 6h,12h,1d 200 EMA. Stoch RSI seems to reverse and MACD looks nice on daily It seems to be on wave 1 from a new market cycle. Altough it had a jump from 200 EMA, it may come a little bit down and test the 6h 200 EMA as it looks a little overbought on 6h and 12h, and after that it may start the ascending path as it's oversold on daily. Looking to sell at key fib prices that also had some sideways or support/resistance in the past. Targets sent in Telegram Channel.
by WealthMurphy