BTS SHORTGreat BTS short entry. Wave 1 has ended and wave 2 has rocketed to the biggest price possible ( in order to no violate the wave structure) .
See attached for bigger picture
BTSBTC
Bitshares possible movementThere are two possibilities for bitshares now but both of them at the end will lead us to previous local ATH. Everything now depends from bitcoin, if it goes up bitshares will follow it and we can have a breakout of a triangle.
There are also some good news for bitshares which can influence it's price:
1) Bitshares has been upgraded to B- on the well respected Weiss cryptocurrency ratings.
2) Lykke exchange is going to list Bitshares and also implement it's blockchain.
Also yesterday I had a conversation with the owner of a big ICO (I can't tell you the name) and he told me that he is going to use bitshares blockchain for his tockens in addition to ethereum one.
That's why I'm almost sure we will go up in a long run. Bitshare is a good coin to buy.
is bitshares going to skyrocket time will tell?with the way the charts are showing on poloniex it looks like bts is ready for a bull run my chart is based on the poloniex bitshares
BTS Elliot Wave UpdateIt looks like its forming a Rising wedge.
This is the ideal location for a rising wedge : the 5th wave of a C wave.
Will try to make some cash on the bounces and place a short near the end.
* the final waves should be closer to eachother
Bitshares retracementIt was a bloody correction of bitcoin during last days. Bitshares was stable longer than many other altcoins but at the end it was dumped hard due to margin calls. I think a correction of bitcoin is not finished and we will probably have one more bloody day before we finally go up. But before that I expect to see some retracement of bitshares. And anyway in a long run bitshares is a very good coin and we will see new ATH during next months.
Correction to previous chart Elliot wave I messed up my labeling/ prediction in the last chart. here is the correction.
The overall direction was right tho, just because the higher trend is down.
Price is at resistence, could be a good entry for short. Place stop loss.
BTS Short Update on larger scale chart
We're in Wave 4 of A . Double Three with a Triangle Y correction pattern elliottwave-forecast.com
BTSBTC Short trade setup BTS will correct a bit after it broke out of the channel, forming corrective wave No 4 , but it shouldn't get higher than D (3737)
Open trade : as near as you can to 3737
Target: 2500
Stop loss: a close after 3800
We're in a Double Zigzag correction : textbook form here www.elliottwave.net
BTSBTC Short I'm a fan of bts but looks like the last Elliot Wave was a DUD and it confirmed that we're in mostly in the CORRECTION of a bearish market and NOT IN A BULL MARKET.
There is another 5 wave downward correction in wave C
The chart looks like Elliot Wave zigzag correction pattern: 5-3-5 correction
Stop loss: a high upper of B ~ 4900 .
BTS BTC: Elliot Wave 5 ready to goThere is a strong possibility that there is another rally coming. Here's why
1. The wave principle has not been broken by the new low. The 4th wave has not overlapped Wave 1. This means that we're due for another impulse wave. The guidelines says that it should be similar to wave 1 in length
2. There are reversal candles near the trendline support.
3. STOCH RSI Bullish divergence - see purple lines
4. BTCUSD fear is cooling off and is trading sideways . A trend upwards could boost the start of the new BTS wave.
Target: 5000.
Stop loss : a close overlapping wave 1's price line
Don't forget to take profits along the way.
Bitshares BTS/BTC C&H while agressive 3rd wave!We are within a Elliot Impusve wave. Completed correction wave 2 and are now in the longest wave 3. Currently building a huge Cup and Handle formation. When this gets ab, I expect the next move to be very impressive. To above 7000 + sats levels
BTSBTC Elliot Wave 5 ready to goThe support held and confirmed the 4th wave completion (corrective wave).
Because we had an extended 3rd wave, the text book says that the 5th wave will equal in length the first wave.
This gives us a target of 5100 which is also a past resistance.
Trade active from 4100:
Stoploss- a close blow the channel support line
BTSBTC high risk reward vertical ascent (speculative)Looking at the current and past price structures of BTS/BTC they are strikingly similar and are even on the same BTC levels. We all know history tends to repeat itself.
btsbtc-watch-neutral1 hour shows short,4 hour shows long follow trend lines .support 39 around resistance 46 around.follow trend lines gold and red.
btsbtc -watch-neutral1 hour grafik shows short,4 hour grafik shows long we will see trend lines.39 around support,46 around resistance.i will update soonç
BTS POTENTIAL BULL FLAG BTS forming a bull flag .
Where to open the long position:
Option 1: Wait for breakout of resistance to buy. Stop loss if it closes bellow the resistance.
Option 2. Wait for a Reversal candle at support ( Hammer , bullish engulfing ) . Stop loss -> a close bellow the support.
Don't buy unless you get a signal. It could go either way at this moment as ETH might go up and most of the traders might want to bet on that. BTC is still in the triangle. A break either way might affect the BTS price.
Take profits along the way. there is a lot of volatility in BTS.
BTS/BTC will history repeat itself with massive gains?No real trend analysis here just an observation I thought I would share.
Looking at the current and past price structures of BTS/BTC they are strikingly similar and they are even on the same satoshi level. We all know history tends to repeat itself, ripple for example showed us this with its crazy run up and steep decline followed by a prices (this could change). Anyway if history repeats itself we could see a near vertical run up and with indicators looking good this is not impossible. More history would be nice but just in case this does happen thought i would mention it. Do not make a trade based off this was purely for a lol and what if.
*This is not financial advice*
BTS still going upI think it's a good strategy just to hold BTS because a global trend is not broken. It's still going up.
BTS TRADE SETUP BTS cooled off a little bit but i think it still has wave no 5 to go.
Dont forget to set stop loss. BTS is highly volatile and can go down as fast as it went up.
Bitshares (BTS) BreakoutINTERPRETATION
BINANCE:BTSBTC Elliott wave 3 bullish run possible.
BUY SIGNALS
-T&K bull cross
- Price-T&K bull cross
- Price-Cloud bull entry & breakout
CAUTIONS/CONFIRMATIONS
- Wave 3, 4, 5 target extrapolation incomplete
POSITION
Entry @ 4000
