Long on BTS to .00034000 sats-3 year cup and handle
-after handle retraced, ABCDE triangle formed
-currently waiting for confirmation
let me know what y'all think. this is a log chart. weekly timeframe.
BTSBTC trade ideas
And here's the close-upA close-up to support the idea I just posted, of what might be a last 5-waves down. If the fib channel plays out, we'll see a move up to the 50% line around 1760, and then a move down. Support to break is around 1350 (big significant previous low), and if we pass the that point people will dump their BTS and we dip down to 900 sats levels.
Or not! As always, don't take this type of ideas as prophecies - it's just inspiration, possible interpretations to use and then do your own chart work.
BTSBTC : bottom might have been spottedHi guys,
So BTSBTC is at one of the most oversold state in his history :
I believe that the market reaction, in this regard, is going to proceed to a bounce near 1800-1900 (1813/1900). 4h MACD going to bullish crossover the signal.
I know very well the bÀBTS chart and each time i found the bottom BTS behave like this. A semi-circular pattern then proceed to impulse. The semi-circular is a precursor of a regain in momentum like i expect on the 4H but leave the daily enough time and extension to provide a good divergence which de facto lead to increasing probability of a bullish outcome which gives us the subsequent impulse.
I dont have a particular idea on the BTSUSD but might see something and will let you all know.
Take care,
Simon
Messy Macro ViewHere's something new: a bearish count from me for Bitshares. After countless wrong counts on the long side, the pattern unfolding seems to take a clear shape for me. But who knows, I might be wrong again! :-)
What I'm seeing: a market where everyone is watching everyone else. Everybody's trying to make a speculative buck (myself included) and waiting to jump on board as soon as the market shoots up. Of course the market doesn't shoot up, because everybody's just waiting and watching. A sort of passive chicken and egg story! Volume has been supporting this claim for a long time now (since past december), and king Bitcoin is showing the same situation.
Technically, one might say that we're still seeing an elastic bounce as aftershock of the big december peak. What happens when the energy of the aftershock dies out completely? A market without energy in it, with everybody waiting for a new impulse. That impulse, in my opinion, will probably only come when prices have seriously dipped (so, a capitulation phase) down to a point where even a blind person would find the dip interesting enough to buy in, because there is, in a sense, only upside to be explored. I'm talking about 20 RSI on the daily material.
And then we'll see people buying in, and a whole host of others starting to buy in at what they think is the end of a wave 2 (of an impulsive wave 1 on a higher trend). And so it begins! Crypto markets really are about mass psychology and self fulfilling prophecies.
So, my current view is we'll see some movement up, for the wave 4 of the last 5-wave leg down. And then one last, big dip into loooooow RSI levels on the daily, potentially down to 900 sats level. At that point I would say, BUY!
Bitshares - could be close to spring eventIf bitcoin continues in bear market we could see a pattern like this play out once we get seller exhaustion (spring event).
BTS weekly....Bitshares BTFD! As long as Bitcoin price dont go crazy we could see BTS climb to 2700+ sats in next weeks..
support at the 0.236 fib level and gann fan
for a better bull confirmation we wait for the COP to turn grey and move up into the green and a gold cross on the MA
big tings for BTS
How low can you go?Interesting times for Bitshares and the whole cryptospace in general. I have two big questions at the moment:
1) Will we find support on the green or the red trend line?
2) Have we completed an ABCDE correction?
Shorting Opportunity for BTS/BTC with High Reward PotentialMomentum of the uptrend officially died yesterday and Bitshares is ripe for a profitable short. The next major resistance is at 1440 sat and considering today's price of 2500 sat , reward opportunity is desirable.
As a trend follower I don't determine a price target. It can go even lower than 1440. Let's see how the trend goes to get a clear exit signal.
You can just pull the trigger at this point or if you're aggressive, you can try to sell at 2630 sats . But these low liquidity assets can drop instantly.
There is a possibility for the beginning of an uptrend in BTSBTCTechnical analysis:
. BITSHARES/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 42.
. While the price downtrend in the Daily chart is not broken, bearish wave in price would continue .
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00002134 to 0.00001560). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00002134)
Ending of entry zone (0.00001560)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.0000260
TP2= @ 0.0000309
TP3= @ 0.0000411
TP4= @ 0.0000470
TP5= @ 0.0000590
TP6= @ 0.0000710
TP7= @ 0.0001020
TP8= @ 0.0001760
TP9= Free
There is a possibility for the beginning of an uptrend in BTSBTCTechnical analysis:
. BITSHARES/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 42.
. While the price downtrend in the Daily chart is not broken, bearish wave in price would continue .
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00002134 to 0.00001560). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00002134)
Ending of entry zone (0.00001560)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.0000260
TP2= @ 0.0000309
TP3= @ 0.0000411
TP4= @ 0.0000470
TP5= @ 0.0000590
TP6= @ 0.0000710
TP7= @ 0.0001020
TP8= @ 0.0001760
TP9= Free
$Bitshares UpdateWelcome Back!
Bitcoin is pumping, what's wrong with the alts??
We are coming to the terminal end of Bitshares correction, that once finished, will yield solid rewards.
I expect Bitcoin to retrace back onto trending support which will cause the alts to do the same. Don't get to excited just yet!
With all of this fear in the market any signs of Bitcoin going back up will bleed the alts because of people selling their positions to FOMO into BTC.
Taking a look at the daily we can see Bitshares has been accumulating in this triangle pattern for the last 7 months.
Price is slowly but surely working its way to the end of the triangle, but we need one more retest back onto support of the 100 week MA.
Once price gets a retest i expect this to give enough momentum back into the market needed for the break of descending resistance.
Will keep updated as price matures.
God Bless, Vajolleratzii
Fabulous Fibs forming?Fib channels are tricky beasts: just when you think the placement is clear, something drastic happens to the price and you notice you were wrong all this time, and the exact same price action seems to perfectly fit another channel. For now though, the price seems to work well with support and resistance lines in this fib channel. That would mean we'll see movement to the center line and the top line in the next 2 days.
My scope for the weekJust a quick in-between chart: these are the trend lines I'll be watching over the next few days. The top red, green and blue trend lines are drawn from the past peaks over a long timeframe, to gray bottom line is the long term support line.
So, key things to watch: will value drop down again, and if so, will this go up to or down beyond the gray support line. And vice versa, will we break through one of the top support lines? If we don't and price falls back down we're only postponing the triangle breakout (up or down) a couple of days later. If we do break through one of the top resistance lines, most likely price will drop back to this line as resistance becomes support, and after that we move further up.
Just a little reminder: Elliot subwave 3 is the most impulsive, i.e. strongest wave up, so this is it typically the wave that pierces a prior resistance. Keep this in mind when drawing your wavecounts!
Bitshares on sale today!There's a lesson to be learned every day! For me the lesson is: always "cost average" into a position. I was too lazy to ladder in, so I bought at the .618 retracement, and unfortunately we dipped deeper.
Putting it more correctly: unfortunately for me, because for those who didn't buy Bitshares is on sale today! We've briefly dipped below the long-term support trendline, most likely to go to the .886 retracement. Given the low low low RSI's we're seeing on multiple timeframes today.
I think you need to be blind not to scale into BTSBTC at the moment so if you ask me: start accumulating, and set your stop loss right at the 100% retracement, then move up the stop loss as soon as price goes up for a free trade.
Feeling Divergent?Bitshares to Bitcoin is racking up one bullish signal after another! Today we're seeing a nice divergence on the 1-hour chart, indicating trend reversal around the corner: trend line connecting lower lows is descending, but the MACD, RSI and RVGI are all putting in higher lows.
As always, there's never security in TA, but the list of bullish signals is getting longer day-by-day, and by taking so long the long term support trend line is creeping up as well, which is a good thing since it means the "bottom" is going higher and higher.
By the way, that long term support is now around 2150 sats and moving up. It's on my chart in dashed purple if you zoom the value scale a bit.
Nice rejection - Hammer Doji formingIf this hammer doji remains for the next hour or so, we have a nice bullish reversal signal.
The Big Bullish WedgeThe bullish wedge is probably the most interesting chart pattern there is: two trendlines (the upper and lower) that show decreasing value, but still it's a sign of bullish things to come! We might be at the bottom of the wave 2 correction, hitting the .65 retracement. It's a good time to be watching BTS closely at the moment!
The case for the 0.618 retracementAnother day, another idea - I don't do predictions. Reasons for a bullish bounce around the 0.618 level:
1) We're seeing a downward wedge forming ( typically a bullish signal ), converging with an apex right on the 0.618 retracement level
2) We're seeing a nice textbook Elliot wave: 5 waves up, 3 waves down, with the ABC correction ending at the end of wave 4 level. This is the way Elliot wave theory is taught in textbooks :-)
3) The golden zone between 0.618 and 0.65 is statistically the most probable retracement level.
In my book, the big question it's all coming down to is: does the larger trends impulse fall flat, making is dive to the long trend support (somewhere around 2200 - 2300 sats), or do we have enough bullish sentiment in the cryptosphere to start a larger trend wave 3?
Bitshares - could retrace more before next series of impulsesReally depends on how BTC acts but at the moment it looks like we could get deeper retracement before continuation of uptrend.
Kangoo tail on BTSBTCThis idea representing my point of view on BTSBTC.
What we see here its definitely bearish formations (multiple top rejections, massive Kangoo tail(or shadow)). Massive tail represents the area of future resistance.
My congratulations for those who went short at 2800.
I will keep an eye on this pair.
Idea is neutral for now!
Quick and dirty outline of wavesJust some quick and rough sketches: import targets are 3600, 4200 and 5k.
Now, let me be the first to say that I don't believe in predicting targets this way. First of all, BTCUSD is too twitchy to make accurate predictions at the moment. Additionally, it's all about counting waves and subwaves for me - these Elliot waves will be adjusted and re-adjusted in the upcoming days. Once first waves become more clearly defined and clear pivots appear I can start overlaying fibonacci levels to see which hypothesis works best on what's already manifested itself. As is at the moment, there's not enough info to do more than this type or roughing-things-out.
Either way, I'm think we might be seeing a nice drawn out triangle for the first day or so, going into wave 2 of 2 of 2 of 2 :-) After that, I'll have more to go on.
Nicely on track!BTSBTC behaving pretty nicely, despite bitcoin movement destabilising things temporarily. Given previous pivots and final (dark blue) 5-wave structure of the C leg of the ABC correction, it looks like a 0.5 retracement for 2760 is plausible. We could go deeper of course - golden zone between 0.618 and 0.65 retracement remains a statistically probable zone for reversal, but given the evolutions in BTCUSD I wouldn't be surprised if we reverse at the 0.5 retracement, or even a little before that (the 0.5 retracement often shows a "front run" movement).
After that we should hopefully be seeing wave 2 of wave 2 of the larger degree trend, which is the big push upwards. Fingers crossed!
