BitShares Price Action

Follow the bouncing ball to the pot of gold.

[BTS 4HR CHART1]
The price of BTS bounced off nicely several times at a key level of support as highlighted in the green box. Unable to breakthrough support level, buyers came back into the market and bought up the price shooting it into a minor level of resistance as hightlighted by the red box. That level also coincided with the bottom of the bull rising channel. Which is why we highlighted it as possible level of resistance. Buyers were also able to break that level and now price is back inside the channel which could now become support.

[BTS 4HR CHART2]
At the current price level, BTS is running into the middle section of the rising bull channel(large orange area). There could be resistance found or it may just shot through it and towards the major resistance level above. Or it could bounce off that middle level and head down to the bottom of the rising channel and use it as support, also the previous resistance level can now act as a support level. From there if support holds, price will probably go back to the highs where major resistance is expected. If trading it, i would take some profit there and see if price can break that level to go higher.

This not a signal service, nor is it financial advise. You buy and sell as you please.
Happy trading folks.