Bitshares (BTS): No Longer an ABCDE but an ABC!! Why? Breakout!

in #bitshares4 years ago (edited)

SUMMARY

The most recent Bitshares (BTS) update showed an abcde which would have brough the price to a closer proximity to the apex. However, given how bullish Bitcoin had been, this five wave correction labeling is no longer required.

The new label is an abc three wave correction and the subwaves of each have been included. The breakout of price outside of the upper white line of the wedge has solidly altered the directon from down to now up. This breakout could be the resumption of the original trend.

The onset of an impulse is clear and what needs to happen is for price to remain above and outside the triangle as then this will make it decisive. Waves 1 and 2 are complete and wave 3 could be well on its way. BTS is lagging BItcoin as just about all Altcoins are and it was this way during the July and Sept corrections last year. This again confirms the Network Effect dominance of Bitcoin. I have yet to identify any coin with inverse correlation to Bitcoin. Once the first five waves are complete, a minor correction can be expected. Let's see how the weekend takes BTS price; but for now, I've placed the wave 5 target to $0.475

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 shoud 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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Looks like BTS dropped to touch the upper line.
Next 24hrs will be very interesting....?
I want to buy at 15cents, all the way down to 5cents.

im bts buyer and holder!!, can i have a small question sir?:)
just wonder your opinion about bts which has been faced a strong challenge from its counterparts such as kyber or eosfinex. do you still expect bts is going to be reached about 300$ as you predicted before??
many thanks :D

ME TRYING TO UNDERSTAND

(

Thats because it too complicated to try to understand!

Why does everyone have to make analysis so difficult? This wave correction Hoo-Haa is nonsense and the break out of this pattern to the high side was obvious WEEKS ago on the last bottom if you just analysed this using SIMPLE TRIANGLES. Instead, the break out is signalled to you followers 2 weeks too late now many of you will be left frustrated. You will never be fully taught the strategies in use here so you have to always rely on analysts to do your thinking for you. Wouldn't you rather learn simple strategies yourself, so you can trade off of your own thoughts, using techniques that don't blow your mind with complication?

Check

@cryptobroye

https://steemit.com/cryptotrading/@cryptobroye/success-strategies-trading-crypto-s-equities-with-triangle-chart-patterns

https://steemit.com/bitcoin/@cryptobroye/success-strategies-2-elaboration-on-trading-triangles-trading-strategy

https://steemit.com/bitcoin/@cryptobroye/success-strategies-3-price-action-trading-inside-bar-engulfing-bar-chart-patterns

It doesnt get much simpler than this.

Simplify and you will succeed.

LOL! Please consider reviewing the tutorial videos linked at end of my blogs.

Of course i will thanks for answer me

It will soon become a single alphabet and even more simple in coming days

@haejin please tell me about steem and steem dollar. When will be price up of them?

BTS/USD
Min target $0.40

Good discernement and volume confirms too! If you labe as abcde; e is on top trend line. What should be done?

Classic ascending right triangle - It will be interesting to see how things develop especially if BTC drops hard.

Exactly that, it is just a descending triangle break out :)

EOS/USD

Yeeeeehaaaawwwww!!! I BTFD'd the ish out of BTS during this correction. I'm ready for my future to be bright...$340 here we come~~~~~~~!!!!

$340? That is a real pipe dream! Oh well, go big or go home.

a very long time ago in crypto time (3 months in actual time), @haejin predicted $340 and I'm holding him to it ;)

EOSfinex is comming for you.

I think the real point of dex is to transact without KYC verifications. EOSfinex will have kyc imo

Nothing wrong with making money. Hope not so that making money is the only thing. lol.

This is my first attempt at TA. Could something like this pattern be a probable outcome? And in particular, does anyone think there might be an ascending line of support (black line forming base of triangle). Screen Shot 2018-02-22 at 2.08.56 PM.png

thanks for the nice analysis!

Any year-end price target for BTS?

This along with EOS are my two favorites.

sad to see that most people are just interested in making money, you all know, when you profit, someone else have to loose.... supporting the cryptos is nice, having free money systems and everyone can choose wich one to support.... but than taking the money out again and putting it in the old money system, like buying shares of companys.... sad ... its exactly what the banksters do and they are gangster.... dont be like them.... they dont know emphaty... they are psychopaths... most of them... support the new systems with holding for long term! not pulling it out every dip.... you make profit... sure ... profit in fiat.... if you need money... ok no problem... but dont make yourself unnecessary rich on costs of others ... its stupid and you play with peoples lives, cause the dip is going deeper for more people selling out.... for fiat.... sorry guys.... i dont get it... so many egomaniacs on this world :(

Honestly you’re so stupid. You’re basically saying people that buy low and sell high are stealing from the people that are buying high and selling low. They are the ones making the decision to sell or buy at bad times. It’s their faults for people that are selling out at wrong times and people who understand the market better are just picking up what they are selling. If they would listen to your advice about holding for long term they wouldn’t have to worry about losing any money. Doesn’t that make more sense? People have to be responsible for their own actions

Thanks for the update @haejin ! Glad to see we are moving up and follow Bitcoin even if it’s been slower than Bitcoins recent burst.

Just waiting to see if correction is done and we are ready for new highs or if there’s another low before correction is done.

My friend you are amazing in your prediction. I follow you near my friend @haejin

Life is full of happiness and tears , be strong and have faith in Bitshares!

Thank you for your information~

Nice piece of work.. Thanks for sharing this information

Thank you for the update. Is it posible that target of wave 3 is 0,47 and wave 5 is 0.55 dollar?

Thanks for the statistics... We have to take care of our investment..

You know its totally rude to "advertise" your stuff here right?
Its called Personal and also Professional morals and ethics. Google it...

I would REALLY appreciate it if you don't advertise your posts on my blog. Please consider promoting your posts through the promoted section.

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