BitShares (BTS) is Following the Prescribed a,b,c,d,e Pathway Pretty Well!!
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SUMMARY
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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.
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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.**
This is my analysis: https://www.tradingview.com/chart/BTSUSD/3TRJsLFk-BTS-Bitshares-first-stop-is-0-97/
I think the ABCDE is complete.
Also interesting to note:
BTSUSD 1 month ago:
BTSUSD now:
BTSBTC now:
MASSIVE PROFITS!
Quick update; we have almost broken out of the triangle. If it does, this could be a big run up!
This does not seem to be right. I feel like @Haejin's prediction was correct.
What in particular is does not seem right to you?
@haejin has a wealth of knowledge and experience on me, so I would not be surprised if he turned out to be correct!
I'm just throwing some ideas out there to learn and get feedback.
So should we sell our BTS holdings and wait for the correction to finish then buy back into BTS? I bought in at 60$ per share btw.
I can't tell you when to buy or sell, but when people ask me this I ask them are they investing or day trading.
If it's the former, you hold until it reaches some longer term profit target. You won't be concerned with day to day fluctuations in price because you think long term it will be much higher than you bought in.
If it's the latter, then set a short term profit target and a stop loss. That way you manage your risk and take a small loss if you are wrong, and you make a modest amount of profit in a short period if you are right.
ABCDE is not complete yet.
Hm, looks complete to me. Problem is it struggles with breaking out of triangle now. Is kinda dribbling on the upper triangle line.
[edit] - ah, I understand You now. You mean B and C in @crimsonronin chart might be just subwaves of real B and that would place us now at the top of D. Could be.
That is exactly what I was talking about.
Yeah I agree, it's looking more and more likely now.
I kept my original count and added @haejin's for reference.
It had momentum but couldn't break out, so I think it will retest the lower end for support
@crimsonronin What software do you use?
Think he is using tradingview.com, it is a good one but I prefer coinigy.com, many use both because not all coins are avaliable on each :)
Hope this helps.
Correct; I'm using tradingview.com
look like you made some money in the stock market as well.
If you are looking for the right point to laddering in...
thx for your work!
You trade Forex mate? My tradingview user is @wolftredar we could connect
I don't really trade forex. Once you nail a 2-10x trade in crypto, it's pretty hard to go elsewhere. I have traded other commodities though like gold, silver etc.
I followed you on TV.
I agree I have traded it all but once you start getting 5x plus you kinda move away from traditional markets into crypto!!
But I keep hearing that the responsible thing to do would be to regularly take crypto profits and invest in gold and silver to diversify the portfolio. What do you think? - and will the gold/silver prices fall as pro investors move away from gold and into cryptos? A friend told me that this would happen...
Diversification is never a bad thing! And yes, always take profit. Don't be one of these people that holds till the end of the world.
Right, thanks :)
If anyone knows of a good place to find information about diversifying ones portfolio, specifically gold and silver, then I would really appreciate a link.
What do you think of diversifying into collateralized pegged assets on BitShares like bitGold instead of physical gold? You still have the systemic risk if the whole network suddenly dies, so it's not as fully diversified as holding physical gold, but it seems a lot more convenient than moving between crypto and physical.
Hmm, had not really considered that option to be honest, but I will look in to it asap. Thanks for the suggestion :)
It's a great idea. Gold and silver look to be hitting ATL's, so it might be a good time to get in soon. Also, property if you can afford it is always a good idea!
You are awesome dude !! Did @haejin teach you this ?
I follow a few people because I love to see a diversity of opinion eg.
https://www.tradingview.com/u/goldbug1/
https://www.tradingview.com/u/MarcPMarkets/
However, @Haejin's TA is among the best there is, especially in crypto, and I have learnt so much from him!
Really good work man. It's obvious you're really working hard at the art. Keep it up!
Thanks so much. I still have a very long way to go, but I'm slowly seeing improvement!
Funny how at the same time we want a coin to increase in price, that sometimes we like the idea of a correction so we can buy more when its cheap! :)
Who does not love a sale! :) LOL
so true!
Do not be afraid to support and comment on Haeijin's blog!! BernieSanders cannot silence us all. He stopped his attacks agains Haejin and now is going after his supporters. FUCK BERNIESANDERS!!!
@letmesee. Thanks.
"if we stay in the forest... we can level up! Killing boars."
Bro! I'm learning some s*** just reading your posts! Thanks for the content!
do you mean shit
Yes. That's what I meant. :-)
Hell yea!
Right?! It took crypto to get me to look at charts. Stocks just seem so boring, and don't get me started on real estate! Haha :-)
Excellent diagram and information as always here’s to the next wave.
It's time for Bts to Moon .
Guys please help so when its done with D it will go down again? It's best to liquidify my gains then right and buy low!!
It will go down again once D is complete, but the spreads are so small, that unless you are an experienced Day Trader, there is a good chance you will lose and not gain. You are far better off at the end of an ABCDE correction to just hodl and wait for it to go up again.
@GmrBotswana I guess you are right bro, better not to risk it at that point. I should have tried it sooner.
Yes. You can transfer to something that will go up for the time being. My bet is on VertCoin, but DYOR.
Ivascons thanks for replying
@haejin can you please explain where you got the idea that H&S price should also have H&S volume?
Every reference I have says left shoulder should have highest volume, with declining volume towards the head, then more volume on the right shoulder.
Where as you are saying the head should have the highest volume?
Thanks!
Thanks!
never thought I would slightly understand and actually study charts!! Few years and I'll be consulting!!