Bitshares (BTS/BTC) Update 19/06/2017: Distribution is Still on, GOOD sign or BAD sign????

Bitshares is trading sideways to down for quite a few days. Its currently trading at 11k Satoshi without much movement in its price combining with low volumes too. Its seems like this script is in some kind of distribution, but is this distribution a good sign or bad sign that we are going to analyze.

Distribution generally happens when then any script after uptrend or downtrend starts trading sideways. If i draw your attention at chart below, you can clearly notice the movement or formation of candle after big surge in bitshares prices on 12/06/2017. The highlighted BLUE rectangle in chart below is just a reference for you to understand my point.
Distribution is good if there is no divergence between script's uptrend or downtrend and security line i.e. red dotted diagonal line in chart below, but bad sign if there is divergence.

If you take a note chart below divergence is clearly visible. Bitshares is in uptrend, but after hitting high on 12/06/2017 , it went sideways to down causing divergence which marked by dotted red line in chart below. Divergence with low volumes which is clearly a case in BITSHARES is also happening and diminishing volumes in chart below are marked in highlighted circle at bottom of chart. So,this shows there may be selling pressure, or high distribution. This may cause the BITSHARES price to reverse and turn into a downtrend.

In conclusion, any new long position in this script is clear no for time being until it shows some strength by increasing volume and trade above yellow horizontal line in chart below to negate divergence.

If you like my analysis do not forget to upvote, follow, comment @jimmyrai28
if not then criticize, this also will be highly appreciated.

You can also drop a comment in 'reply' if want you want me analyze any script of your choice.