Due to many requests, I’m going to briefly analyze Bitshares. It’s actually looking similar to bitcoin's chart. They both are having complex corrections and both are reaching key support/demand zones. I believe Bitshares is completing wave C of a larger WXY pattern. It’s sitting on top of the $0.083-$0.073 support/Demand zone. It’s also near the bottom of the larger wedge it’s operating in. I wouldn’t be surprised to see price drop 1 more leg down to complete the larger ABC correction. If this happens, I believe a strong bounce is possible.
The 4 hour RSI has developed a descending resistance line. If penetrated, that could signify a momentum shift towards the bulls.
In today’s video update, I discuss price movement, give you my bullish Elliot count, review key areas to watch and MUCH more. If you’re not watching my videos, you’re only getting a small part of the story.
Video Analysis:
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BIAS:
Short Term: Neutral
Longterm: Bullish
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
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by Workin2005
