Charts and Chicken Bones - BitShares (BTS) looking strong
All of these screencaps were taken on Trading View. The pair is BTS/BTC on Poloniex.
As you can see, BTS has been doing quite well since mid-day of the 12th. These are pretty textbook examples of 'bull flags' or 'pennants'
Drawing some triangles can help you anticipate when a 'breakout' will happen. Anytime prices are bouncing within a range, estimation of the range bounds will give you these triangles. As you can see, the price of BTS looks to be breaking out of this pennant. You can see the striking similarity to the previous pennant.
Here you can see a little bit more context with the months, as well as a risk ratio thrown in for good measure.
Commentary and Fundamentals:
The strength of BTS may be due in part to an influx of crypto money from the Steem blockchain taking interest in the underlying technology. That's certainly what attracted my attention recently. I am far from an expert on BTS or OpenLedger, and I'm sure there are plenty of people who can correct me, but for a simple analogy: the BTS blockchain is the engine of OpenLedger and BTS is the oil that lets the gears move.
I've used OpenLedger a number of times and strongly recommend trying it out, if for no other reason than to see what a decentralized exchange can operate like. Only complaint is low liquidity, but BTS/BTC is quite active. There is a good deal of Steem exchanged on OpenLedger as well.
There is certain to be some sort of a correction in the future for BTS, where and when is always the fun question.
OpenLedger is the biggest decentralised exchanges running on Graphene, the tech behind BitShares, Steem, Muse and Peerplays. There are others, anyone can set up an exchange powerded by BitShares.
BTS is, indeed, "the fuel". To be more precise, it's the currency of the plateform. All you want to do in the platform, buy, sell, borrow, create currencies, collateralize stable assets, ... is using BTS.
One of the main reason why BTS holders are so thrill about the future of BTS is its architecture. As BTS is used a lot in the plateform, the share price increase can be huge. Any stable asset (BitUSD, BitGOLD, ...) use important quantities of BTS, a lot will be held in collateral . The more BTS grow the less BTS will be available, the higher the price will go.
BitShares is not only a decentralised exchange, it's much more ! It's more like a decentralised master bank where you can do all kind of operation. Here is the main ones : Price-Stable Cryptocurrencies, Decentralized Asset Exchange, Industrial Performance and Scalability, Dynamic Account Permissions, Recurring & Scheduled Payments, Referral Rewards Program, User-Issued Assets, Stakeholder-Approved Project Funding, Transferable Named Accounts and delegated Proof-of-Stake Consensus.
Liquidity is growing since the launch !
you can see the volume of the most traded assets here :
http://cryptofresh.com/assets
and a nice live chart (10 sec to load it) here :
http://cryptofresh.com/charts
Thanks for that @glitterfart! Far more detailed than mine :)
Takes forever to load on my side, but the chart looks promising