Bitshares (BTS): Updated Price, Indicator, Pattern & Waves
SUMMARY
The fractal for Bitshares (BTS) is still in progress. I've updated the "You are Here" markers. The width of the blue fractal's rounded bottom formation is narrower than projected before and thus has been updated. MACD is still looking bullish and supportive of higher highs.
The below contains the Elliott Wave labels. IF the subwaves (blue) of white wave 1 are pretty much complete; though an incremental higher high is verly probable also; then white wave 2 should onset soon; if not already. This would mean a dip in both the price and MACD as shown. The white fractal didn't have a significant decline and so for now, the blue fractal is maintaining the an outlook for a similar outcome. Following this minor correction, price should really take off. There is a potential for the white wave 2 to deviate from the fractal and perhaps make a deeper than expected correction. We'll see how that progresses.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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Elliott Wave Counting Tutorial #1
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What i truly love about bitshares is the architecture and actual execution of that architecture in the code itself. It could be platform to really do things and take off. It could handle crypto kitties, u mad ethereum?
This haejin post has been downvoted, it is a @flagtarget.
READ: Resteeming @haejin's 8th 9th and 10th post of the day as target to be flagged.
They resteem 3 of @haejin's posts a day, and we concentrate our efforts on removing the potential rewards from those three.
Then @flagfund pays "The Braves" who flag those 3 posts every day, as you can see their posts are doing quite well.
Also i believe steem is based on the same or similar underlying technologies
It's just a excellent planning with a great code that is like THE LAW and the economics values in it's core. And the best of this, in my opinion, is the fact that if you think things that could affect them in a bad way, Bitshares and other cryptos reacts like in Aikidō (blending with an attacker's movements for the purpose of controlling their actions with minimal effort).
What I mean with this? Everything that is bad in the actual system (neo-liberalism waves with capitalism), everything orbiting the capital (force to submit anyone, from people to institutions or even communities), I mean you can buy even opinions, media, keeping it simple, money makes the monkey dance, and in what respects to cryptos, at least Bitshares and Steem, you CAN'T buy their core laws, or it's really difficult to do it, or even if you buy like really much of Steem for example, and try to harm the community it's punchs you back having more strength, by having more value (purchasing power) with less liquidity on the exchangers.
Keep it a try, imagine bad scenarios for Bitshares and Steem, it's difficult to think something that the developers can't fix or something that can corrupt the intrinsic values of their economic cores beliefs wroted on their code.
This was nice Man...
I'll preface with: I love Haejin and am greatful for his analysis and teachings, they're what allowed me to trade cyrptos confidently.
And perhaps there's a lot more analysis in the background going on that he's not explaining and I'm missing.
However, here are the BTS and TRX charts side by side, spitting images of one another.
In one analaysis TRX is "overbought" and heavy connotations in the article to SELL your TRX.
Conversely, with the same outlook the BTS article suggest "minor correction", and on to higher highs.
Why such stark contrasts in sentiment when the data is identical, from an outsider's persepctive it seems your / his analysis is being muddied by bias, or sentimental feelings.
I think it's very important to stay objective and remove all emotion from investing. Be careful, "Do-Your-Own-Research". And never base your trades off of someone else's suggestions.
Both Tron and BitShares had massive gains out of the gate (322%, and 316% respectively)
I guess, he prefers BTS over TRX.
And that's fine! Just thought I'd share my perspective on the importance of removing emotion from trading; the only thing that should influence your trades is chart data.
Full disclosure, I own both TRX, and BTS in my portfolio because I think they're both equally attractive. I'm not trading this correction with either coin. I'm taking Haejin's advice to be long term greedy, and take profits after a larger trend "5th wave" and/or "3rd wave" impulse, and of course - drop the entire bag if the 5th wave extends drastically.
I took a risk and am trading both, but with small amounts. 😅
Think you could easily reload at the 38.2% retrace, add 10-15% to your position.
Yeah, that's what I did before this post. TRX looks promising but BTS is not so.
There's always the chance that an expected ABC turns into an ABCDE triangle and you're forced to reload @ a loss.
I'm really glad you noticed this too. I'm abstaining from taking action until I see the signs of a market reversal. In my opinion if the markets are still bullish it's not worth the stress of the trade right now. TRX may retrace 75% or more but I dont see it as being likely at all. In fact I don't believe it will retrace anywhere close to what XVG just did, and I had no problem hodling through that mess. I'm not even that bullish om TRX, but it is still very far from its previous ATH so growth should be fairly easy as long as BTC keeps moving up.
Good detailed TA Haejin, thanks. Could you update ADA and CND please?
This haejin post has been downvoted, it is a @flagtarget.
READ: Resteeming @haejin's 8th 9th and 10th post of the day as target to be flagged.
They resteem 3 of @haejin's posts a day, and we concentrate our efforts on removing the potential rewards from those three.
Then @flagfund pays "The Braves" who flag those 3 posts every day, as you can see their posts are doing quite well.
been HODLing BTS for 4 months now, adding as i can. First buy at 0.18 USD. Best trade I've made all year.
I always look back at projects like BTS and wish I had gone all in. Never seem to have enough in the big winners.
Surely it's still cheap enough you could ?
@haejin do you have thoughts about automated trading strategies? I read an article recently that showed an hourly rebalancing strategy gained 60 - 90% more during a bull market than hodling alone. Of course that would have the opposite effect in a bear market, but it just goes to show that effective automated trading strategies exist and can be harmonious with existing short and mid term manual trading strategies.
Thanks @haejin for these authentic analysis of Bitshares through great waves
I really love BTS. Ease of use is def the best. Thanks for the great analysis
Since all of crypto is so affected by BTC, how and where does the btc 2k handle drop play out on the bts chart?
Definitely buying BTS tonight thank u for update.
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