Although BitShares has struggled to gain momentum over Bitcoin during the last week, it still has that potential to outperform the Bitcoin .
There has been the support established at 950 satoshi, and while BTS/BTC has shown higher highs and higher lows pattern, on a corrective wave down the 950 support has not been broken and in fact today it is being rejected.
The 950 satoshi support is confirmed by the 76.4% Fibonacci retracement and the lower trendline of the extended ascending channel , both of which are also being rejected.
Clearly, BitShare facing a strong support and while it holds, the upside potential remains. BitShares could go to the previously established high at 1800 satoshi and if/when broken next target would become 161.8% Fibonacci retracement level at 2355 satoshi. Break above 161.8% would give more momentum for BitShars and could establish a longer-term uptrend. Only a daily close below 860 satoshi could invalidate bullish outlook and send BitShares lower.
There has been the support established at 950 satoshi, and while BTS/BTC has shown higher highs and higher lows pattern, on a corrective wave down the 950 support has not been broken and in fact today it is being rejected.
The 950 satoshi support is confirmed by the 76.4% Fibonacci retracement and the lower trendline of the extended ascending channel , both of which are also being rejected.
Clearly, BitShare facing a strong support and while it holds, the upside potential remains. BitShares could go to the previously established high at 1800 satoshi and if/when broken next target would become 161.8% Fibonacci retracement level at 2355 satoshi. Break above 161.8% would give more momentum for BitShars and could establish a longer-term uptrend. Only a daily close below 860 satoshi could invalidate bullish outlook and send BitShares lower.
Komen:
Went up as expected, currently, at the 1800 satoshi resistance, need to break above to go higher.
Dagangan ditutup: sasaran tercapai
Komen:
As it breaking above my target, uptrend could continue
Dagangan ditutup: sasaran tercapai:
thats how we do it
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I am still aiming at 2000 sats but what is your next term expectancy about Bitshares ? Thank you !
Balas
@TraianIonita, short term target reached, now need to see how it will react on resistance
Balas
Great analysis - thank you and fully agree. I am long in BTS and cumulating on an ongoing basis.
Balas