BITSHARES (BTS) Update: W,X,Y Complex Correction
Bitshares placed waves 1,2,3,4,5 (black) and the fifth wave was highly extended. The subsequent a,b,c, corrective waves were also completed. The first sign of a trend change is an impulsive five wave motive in the opposite direction. To that end, I've labeled waves i,ii,iii,iv and v (black) as subwaves of wave 1 (green). The remaining waves within the two black horizontal lines are channeling out a complex wave 2 (green) correction that can be labeled as w,x,y (red). Once sub wave y (red) is complete, prices should have enought mojo to bust out and above the upper black horizontal resistance line. If so, wave 3 (green) should bring prices to higher highs.
Keep a Roman Eye on the Bitcoin Bear as it can spill the honey pot!
Here is a primer on W,X,Y Elliott Waves:
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BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
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EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: 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.
Lot's of great news and development happening in Bitshares right now. I'm hoping to see $1-5 BTS before the end of the year. Once the moon shot starts it is going to be epic. BTS has some of the strongest hands and liquidity will dry up fast.
The main reason is that it is so many different things. It's not selling a single product. That is the greatest strength of BTS. There isn't even a single point of failure withing the eco system. If MSFT lost Xbox division or Alphabet lost YouTube, they still have many more things going on. It's the same story with BTS. That's why I'm holding it.
Hopefully BTC would also help to make the market less tied with BTC. The community around is going nuts. They have no governance or whatsoever. Other great coins like Dash are only providing one service. Although they are amazing, it's hard to sell it to people as superior to BTC since too many people are biased towards BTC.
Of all things what I'm cheering the most is for BTS to cut down the influence of BTC so that the other coins can shine.
That would be nice
Yes it would! Little sideways shuffle till the party.