SUMMARY
NOTE: If this blog gets downvoted; has our backs!!
Bitshares (BTS) is following the below prescribed a,b,c,d,e triangle pathway pretty well. As waves a,b,c are done; that leave d and e to complete and price seems well on its way towards e. This despite the daily chart and MACD showing a bit of overbought condition; however, I've seen plenty of instances of MACD scraping the tops of the overbought ceiling for weeks before declining. So, let's see if the overnight prices can complete the d wave. These a,b,c,d,e patterns have about 61.8% success rates so they can become invalidated. However, probability leans towards validation.
Here is a bit of a bearish indication for the BTS/BTC pair. A Head & Shoulders pattern can be seen and this bodes a few declining days. Once BTC turns up, most /BTC pairs will decline and start correcting. Unless, the demand for a particular /BTC pair exceeds the upside rate of BTC.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**