BTSBTC: Key decision time and price zone

POLONIEX:BTSBTC   BitShares / Bitcoin
Bitshares has traced a 10 bar 3 day chart uptrend, which culminated with an explosive rally that blasted past the target ahead of time, and ran into low volume resistance, which made the rally close right there, and in the next two bars fall back down.

Right now, by April 3rd, the uptrend time will ran out, which implies a breakdown back to the accumulation base, if the 0.00001373 level doesn't hold for 2 more bars, forming on close a new mode here, which could serve as an uptrend continuation signal, and more reasons to hold and even add to longs, or enter fresh positions if you're not in the trade.
Take heed of the different levels on chart, and watch it closely, I'll update the chart when we get a long entry.


Ivan Labrie.

PS: Check my profile if interested in learning more about this analysis methodology.
Comment: New 10 bar mode on close here. Ready for an explosive move up soon.
Comment: Breaking below the new mode.
Low volume selloff though. Monitor price, shouldn't go below 0.00001205.
Comment: The selloff clearly broke too low, you should be out of longs at 1373 as per my chart.
We're now headed for 968.
Comment: On track, monitor for a long entry at support.
Comment: We arrived at the support level I targeted, but there's still 5 bars left for this decline, potentially, and targets as low as 0.00000764 in store.
This could be a viable long nevertheless:
didn't hold 1373 price.. wondering if closing it
thanks for the update.
+1 Reply
I'm closing my position
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