BitShares (BTS) Technical Analysis: Reaching Key Support/Demand Zone

Due to many requests, I’m going to briefly analyze Bitshares. It’s actually looking similar to bitcoin's chart. They both are having complex corrections and both are reaching key support/demand zones. I believe Bitshares is completing wave C of a larger WXY pattern. It’s sitting on top of the $0.083-$0.073 support/Demand zone. It’s also near the bottom of the larger wedge it’s operating in. I wouldn’t be surprised to see price drop 1 more leg down to complete the larger ABC correction. If this happens, I believe a strong bounce is possible.

The 4 hour RSI has developed a descending resistance line. If penetrated, that could signify a momentum shift towards the bulls.

In today’s video update, I discuss price movement, give you my bullish Elliot count, review key areas to watch and MUCH more. If you’re not watching my videos, you’re only getting a small part of the story.

Video Analysis:

If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or TIMM (https://mentormarket.io/profile/@workin2005?aff_id=Workin2005) in order to watch.

BIAS:

Short Term: Neutral
Longterm: Bullish

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!

Workin

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by Workin2005

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