#BitShares offers multiple financial services including exchange and banking on a blockchain. As stated in their documents, BitShares is a technology supported by next generation entrepreneurs, investors, and developers with a common interest in finding free market solutions by leveraging the power of globally decentralized consensus and decision making. At the time of this writing #BTS is up 1.30%, this is the first Technical Analysis for BitShares.
Monthly: Support Zone being tested, a break below 2700 satoshi and we could see a drop to 1200 satoshis. Major resistance @ 5200-6000 satoshis 2nd major resistance @ 9000-9300. Bearish momentum slowing down, stochastic showing us momentum is starting to move towards the upside (Yellow zones Far Bottom). *Breakout Coming
Weekly: Price action showing bears are in control. Failed to formed 2nd high, still some room to the downside. Major Support @ 1700 satoshis, following bearish parallel channel . Waiting for confirmation before taking any position.
Daily: Scenario 1| Retracement towards 1700 satoshi zone, indicating a 3rd bounce off our bearish channel. Scenario 2| Currently testing support zone 2300-2600 satoshis, inside yellow ellipse daily candles showing Higher Low Structure.
Conclusion: Although most #cryptocurrencies have started to recover, there are a handful that are still stuck in consolidation and or looking for support. #BTS being one of those. Despite the weekly/daily timeframe showing that the bears are slightly control, when taking a look at the monthly chart we see huge potential towards the upside. If looking to add to your BTS position i recommend waiting for a daily timeframe confirmation, February is short month and tends to be the stabilization month and we should expect bullish momentum to pick up in late February early March.
Comment Down below what coin you want me to do next! ;)
Thank You for Your Support, Upvote and Follow!!! New Blog and Video everyday
Be the first in line to use Robinhood’s Zero Fee Cryptocurrency Trading: http://share.robinhood.com/martinc13
Social Media:
D-Tube: https://d.tube/#!/c/kid-martin95
Youtube: http://www.youtube.com/c/kidmartin95
Twitter: https://twitter.com/KidMartin95
Instagram: https://www.instagram.com/kidmartin95...
InvestFeed: https://www.investfeed.com/kidmartin9...
Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.