BTSBTC trade ideas
Bitshares (BTS/BTC) - Potential 100% Trade!Analysis:
- Bitshares seems to have bottomed out and buyer volume has increased
- Fundamentally, BTS owns a decentralized exchange, which is key to giving Chinese investors access to crypto markets
- RSI has crossed back above 30 on the H4 - Bullish signal
Targets
1. 2,900 (38% profit)
2. 3,600 (71% profit)
3. 4,500 (120% profit)
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BTS Long OpportunityBTS looked like it has bottomed. RSI is at very oversold levels and is crossing upwards. There is a hammer on the 1D chart indicating the end of the downtrend. The following candle is a also a bullish engulfing candle. Set stops below the current daily bar. This should be a nice move up if BTC doesn't collapse again.
BTS getting ready to bounceBTS has tried to bounce and go back up but could not break the 0.382 fibonacci support level at 0.00003859 despite the increased volume as shown on the chart. We need a little more accumulation and volume before it can really jump beyond that resistance level.
In the next week or so, I expect the price to go further down to the next support line at the 0 fibonacci level and bounce from there.
This can happen between now and mid-next week after which I expect the bulls to come in the market.
The TDI, MACD and RSI indicators are all agreeing and showing bullish signs on the day chart.
If volume keeps increasing, it will send the price to the levels indicated by the chart.
- BUY ZONE: shown on the chart
- TAKE PROFIT 1: shown on chart
- TAKE PROFIT 2: shown on chart
- TAKE PROFIT 3: shown on chart
I am new to this and I'm not giving financial advice.
This is for pure fun and everything I say needs to be taken with a grain of salt.
Do your own research before investing your money.
Happy Trading!