BitShares analysis. Bitshares Breakout Turn into a Rally (#6)
BitShares also follow Steem. Heroic bull run is conducted on BitShares to reach new all time height.
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Sometimes my knowledge help to spot a prediction from charts, but I think that also some luck is on my side. In my previous analysis #5 I predicted a start of new uptrend, but I do not imagine that this will be so huge. I'm happy to have quite a part of my portfolio in BTS, because now they are breeding, there is more and more wealth pouring there.
ABCD harmonic pattern was a trigger of new uptrend. It is interesting that point D is low below a MA90 average accumulating a lot of momentum which was used to spark a bull run. I must point out that moving averages should be used as support resistance contours (lines). My TAF mate @pawsdog extensively used averages in his analyses.(worth to check it out).
So from point D an uptrend start and we have already reach the top of the second impulse wave (3). Now bears will regroup and try to hold a line or gain some ground they will probably push to the $0.71 level (38.2$ retracement level), but then bulls will start the next offensive with target around $1.00 level, could be also up to $1.14 (161.8$ extension level) the higher the better. (I will welcome some extra bucks!!)
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Previous analyses: #5. It's good to check previous posts to get wider picture of price movement.
Image sources: investing.com, google.com
Disclaimer: If you use my ideas and analyses in your investment ventures, you take all responsibility and consequences about your actions.
What do you think about BitShares price? Comment and present your views! Great ideas emerge from good quality discussion! I'll be immensely grateful for your contribution.
And as always upvote this post and previous ones, if it have some value, follow me, if you think this content is great and I promise that it will be more interesting stuff in the future. Let make BitShares great!
If you wish you can buy me a bear by donating on my BitShares account t9mbrd99 in BTS or here in Steemit, to support me in spreading knowledge about BitShares. I like good beer very much!!
Bitshares is another one to watch. Everything that Dan Larimer touches turns to gold.
@Dan "Midas Touch" Larimer
'Midas Touch' exactly.
Yeah, his the man! Have you own some EOS? Do it to be first adopter. I buy it as much I can afforded in my situation!
I don't have EOS yet, but that's only because I've had limited funds to invest, and I'm in some (6) different cryptos now, and truthfully, I hadn't even heard of EO when I start my crypto journey. I believe it will go big, however.
Try to sign up to BitShares exchange: https://wallet.bitshares.org.
Here is my post about pros and cons. Check it out!
Do you have an EOS analysis?
Will do, thank you.
here you can clearly see which one is the Brian Wilson of the two. I just hope @dan won't touch LSD... or maybe?^^
Brian Wilson -- ROTFL!
This post has received a 0.05 % upvote from @drotto thanks to: @doodlebear.
Everyone has Bitshares on his radar and I do have a couple of their coins, but I kind of don't like their site. It's a bit confusing for someone who just wants to buy and hold.
Yeah it is confusing, but I got used to it. Other advantages outweigh out drawbacks. I use BitShares exchange regularly for trading BTS, BTC, ETH, DASH,DOGE, EOS and Steem. Liquidity soared and volumes also, you can conduct solid trading for microscopic fees. And BitShares DEX can't be hacked (like centralized exchanges). All private keys are with me!
Here is my post about pros and cons. Check it out!
Since you know it well: Where do I find Bitcoin Cash in their asset list, what Acronym do they use for it? Or are they not offering it..
There is no trading wit BCH yet on BitShares DEX.
BitShares trade this assets in descending order by volume: BTS, BTC, EOS, STEEM, ETH, LTC, DASH, USDT, DOGE, MAID. This assets are open ledger smart coins (open.BTC) or BitShares smart coins pegged to the value of a real assets. (ref: https://bitshares.org/technology/price-stable-cryptocurrencies/)
Other coins I trade on Bitstamp and Poloniex.
When you transfer coins via gateway (blocktrades, openledger gateway) to the DEX, your original coins is translated into a equivalent number of BTS and put on BitShares blockchain. Pegging algorithm guarantees you that in every moment you can get equivalent amount of BTS at current rate for your smart coin Effectively you can always convert your BTS back into your coins and withdraw them over a gateway wherever you want.
This system enables that you are in full control of your funds. You have a private key of your BitShares account and nobody but you can do transactions with your funds.
This is different as in centralized exchanges (Bitfinex, Coinbase, Bitstamp ...), Where you transfer your funds to then and effectively get only IOU from them for your coins. Your trades are not recorded on blockchain but in their order book on their servers. If someone hack servers, bye, bye your coins.
Exchanges also have your personal data and all your transactions can be linked to you. IRS can have you on their radar. On BitShares they can do nothing. You anonymous on Bitshares as long somehow your account is not linked with you externally. That means that you should not put your account and your personal data on internet together.
Because of this BitShares properties I prefer to trade mostly there now.
thx a lot for that explanation! I was already wondering why none of the assets looked like it could be Bitcoin Cash. But I do wonder why they haven't go it in their portfolio. After all, Bitcoin (the original) seems to have been centralized and has now a fancy Bilderberg boss.
More then centralization the speed bothers me. My last transactions out of real Bitcoin take days. Here on BitShares I trade with Bitcoin like champ. Anyway I have no intention to get my crypto funds to fiat in the near future. When I need fiat parity I just sell coins for bitUSD. for almost no fee.