Crypto Contest June 24: BitShares
BitShares has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, BitShares began a wave one advance on May 27. The wave one finished on June 5, and the wave two correction ended on June 6. The wave three advance finished on June 10, and the wave four correction ended on June 21. If this wave count is correct, BitShares should be heading next towards the June 10 peak in the wave five.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, I believe BitShares is currently in the wave three (sub-wave v).
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "BitShares will takeout the June 10 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "BitShares will drop below the June 6 low".
If you think BitShares is in a range, upvote this post and upvote the comment "BitShares will stay in a trading range between the June 6 low and the June 10 peak until July 24".
You can upvote the comment until 3 PM EST June 25 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.
BitShares will stay in a trading range between the June 6 low and the June 10 peak until July 24 (12 voters as of 3 PM EST June 25: helikopterben, ppitonak, migo25, skririm, starline, razorwave8, stay9n0, ragnaros, osmanbugra, abh12345, gayboy, imvictus).
this
It was.
You won.
BitShares will takeout the June 10 peak (32 voters as of 3 PM EST June 25: bleujay, cm-steem, fatboy, yefet, twinner, coinmaker, gregory-f, soundmoney, me-tarzan, natra, timoshey, dirty.hera, themovieplace, damla, mirda, thomasaquinasftw, catena, poppy.poppers, knowledgetopower, eirik, thatsweeneyguy, andy23, mprgrmmr, kooshikoo, flemingfarm, jznsamuel, zapp, junoooo, spassvogel, improv, acid78, miniature-tiger).
I am bullish but I could see it consolidating my Tradingview chart here.
Yes. Let's watch and see.
this for sure :)
-im gonna go with breakout!
I would have never pegged that big of a surge coming a few weeks ago based on my TA on the monthly but all the regulation buzz really sent it zooming. I have a feeling it's only gonna get worse as time goes on. The government is moving faster on this agenda than I've seen them move for a while (probably bc they have been getting away with absolutely no mainstream publicity). Between polo's rising user resentment and that I say it's gonna top it for sure.
Bitshares will take out the peak. And I can tell you why:
July 4. The billion dollar hero challenge will kick off. The hero is made by locking up bitshares as collateral. If a success, huge amounts of bts will disappear from the market.
Sounds good.
Here is the challenge:
https://steemit.com/hero/@stan/the-billion-hero-challenge
BitShares will drop below the June 6 low (6 voters as of 3 PM EST June 25: coolthings, avarice, spinbunny, steemychess, sevinwilson, lig007).
I wouldn't be a seller here but I wouldn't be a buyer either until .0007557-.0006204... the break out of the triangle will most likely fail due to the heavy volume that it's still under. If it can sell and flush closer to the lower end of the range and build volume THEN break higher off that volume that will confirm a solid bullish sentiment. Just my opinion.. no investment advice, of course.
I am afraid Stan doesn't let that happen (dip to 7557-6204), before new high. After new high we could get the dip.
That's certainly possible, but I trade off of order flow and trader positioning... so that's by basis for that support.
We came close.
BitShares will takeout the June 10 peak.
Do you recommend investing in BitShares right now to hold long term?
I missed many opportunities to invest in it, and when it went past 7 cents I lost track of it. We all know what happened next :(
I am only looking for a quick trade to the June 10 peak at the moment.
July 4
BitShares will drop below the June 6 low
BitShares will takeout the June 10 peak.