Hello Steemers!
Sharing my $BURST/BTC chart today!
BURST caught my eye cos of the massive 4567 BTC volume spike on Sept. 13th.
I will be showing you the weekly and monthly time frame charts, again long term targets.
As usual for start the clean charts:
1 week chart Poloniex -clean - Nov. 20, 2016
1 month chart Poloniex -clean - Nov. 20, 2016
Since Sept. 2014. BURST was heavily dumped reaching it's final bottom of 9 satoshi in November last year. Since it has been in a slow uptrend with occasional spikes and a massive 4567BTC volume on Sept. 13th. 2016.
Putting up some lines on the chart again. Like yesterday I will draw only a couple I see being important.
1 week chart Poloniex -lines - Nov. 20, 2016
1 month chart Poloniex -lines - Nov. 20, 2016
Once the lines are on the chart it is easier to see how the price started advancing upwards after hitting the 9 satoshi all time low.
1 week chart Poloniex -fib - Nov. 20, 2016
1 month chart Poloniex -fib - Nov. 20, 2016
As it's tradition I put on the fib, used the weekly for it.
We can see how the price is slowly but surely advancing through the first, red fib zone. Still traded in it, but the last heavy spike indicated that soon the price might advance above it.
what to expect next?
1 day chart Poloniex -zoomed in - Nov. 20, 2016
We just hit the 60 satoshi support line, which could act as a bounce point.
If it fails and the trend turns down the next is the 42 satoshi support line.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
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DISCLAIMER
I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
Everyone who uses TA develops his own unique charting style, please keep that in mind.
Kind Regards, OZ :)