So we were due for an update. Pattern recognition of an expanded flat correction that respect all the rules about the form. A 2 subsequent ABC ending in a 1-5 wave. I do not exclude that wave 5 can be more extended to 0.08 ish lvl before being buy out as BTS behavior tend to support extended waves.
The fundamental of the pattern recognition are there. The MACD 4H is not on the best position but adding the RSI we can accept that the ongoing oversold state will prevent further lows for now.
That being said normally we should see a bounce toward 0.12 at the precedent major B.
I do not reject a continuation of the wave 5 since BTS often behave with extended wave but that should not compromise the projection.
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I can add this perspective too :
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If we prefer to base our projection of the anteriority we can see that ABCDE (compressive price) pattern on the oversold state and minimal negative histogram lead more than often to a re-up in price :
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The BTSBTC pair is very intesting, a triple combination structure. We can see very symmetrical pattern. Each WXY ( or you can use ABC) lead to form WYZ (this is where the 'triple' thing came from) to a relatively flat support and lvl. While each X is identical in their form with a 1-5 structure (both X need to have same structure because they are named X, otherwise this is not a WXYXZ). Each Sub W link together as well as each X links together forming a channel. There is many correlation in this structure
The triple, the WYZ, have the same correlation form on other indicators such as RSI and similarities on the MACD (if you exclude the compressive form of the MACD a.k.a. higher lows)
I discard a double zig zag with a lower Y (which is named Z in the triple combination structure) because the is no ABC between W & X that could lead me to include a lower low than Y of the Y in the WXYXZ. There is many correlations in this structure that why i share you this idea.
Of course this MACD on the BTSBTC pair isnt in the best position but I expect a relatively minimal negative histogram in regards of the compressive price we have
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On the side from the telegram channel. Stan Larimer gonna be at an event in Ls Vegas next month about Bitshares, After China this spring, BTS in Las Vegas.
I do my good guy here. If you want to join the discussion about the core dev. and many project on BTS blockchain go here in the telegram channel of the BTS community : web.telegram.org/
(I take most of my news here in the News channel : web.telegram.org/
Trade active
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almost reached. update after fully reached
Trade active
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MACD 1D bullish crossover. We can expect a continuationg toward restiance and MA 100 near 0.134 and 0.15 on a more mid-term projection
Trade closed: target reached
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while first target reached i keep 0.134 as second target. Update is not needed right now, no so much new data in play. update later in 24-48h. higher target remain.
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second target idea.
Again BTS being BTS with his classic extended wave. wave 5 target is 0.125 or 0.134 to 0.14 depending on the extension :
Trade closed: target reached
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2nd target follow up : wave 4 reached. will update idea this afternoon
Thanks Again Simon... bts looking stronger compared to most alts, but anything can happen...might reduce margin again around bts13c...n get ready for buying next dip
UnknownUnicorn1540828
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@hairycanary, i really think that double triple formation is really in giving us this strenght. if next days look as good as recent past days i will have a nice signal to share with you all
@hairycanary, and hairy lets not forget that BTS hold the world record of transaction amount in 24 hours. without the algo going overheating and staying in the green. just that speak enough WORLD RECORD ! And now for us BTS hodler we finally have multpiple fiat ramp on/off Lykke in the EU, on DEX worldwide. Stan was welcomed like a super star in China and now heading in Amsterdam for BTS convention and next month Las Vegas at the WorldCryptoCon. hundreds of shop accept BTS as payment in China.
BTS on paper is a beast. The price performance is an another thing.. and confuse me alot in regards when trying to link crypto real life performance and usability vs. price BTS should be way higher.
Jesus, EOS is based on BTS and EOS is at 5.43$ (?!).
Reality exceeded my expectations with BTS, objectively comparing it with other crypto out there that doesnt accomplished or do 50% of BTS doing. Im not a strong supporter just for fun.
So long i did not discussed fundamentals of BTS in my post, focusing on TA but i hope people get curious about why i do a lot of TA on BTS and go check the technicals aspects ;)
k.gritsyuk
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@simonmercier, sometimes faith in BTS disappears and I want to find another promising project. The issue is not so much in the price of the BTS, as in the low liquidity of the DEX pairs
UnknownUnicorn1540828
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@K.gritsyuk, if you want good liquidity go on the BTSCNY pair on DEX. its like BTSUSD x10+
k.gritsyuk
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@simonmercier, but if i want to buy some XEM? I should transfer some bitCNY or BTC to another exchage, buy XEM and then transfer XEM to OL to hold in DEX. Another trouble is dont working gateways. If you know, Metaverse (ETP) gateway at OL under maintenance since summer 2017. Its cool idea to by BTS at any exchange (OL, gdex, rudex) at the same price, but there is some trouble with other coins (for example gdex.EOS and open.EOS). If you bought it and there is low liquidity, its problem to sell it. That's what I meant by words "low liquidity".
k.gritsyuk
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@K.gritsyuk, I want to clarify that you can sell coins, but the price will be very low. Low liquidity
UnknownUnicorn1540828
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@K.gritsyuk, i agree about the other coins low liquidity. adoption curve at his finess but i think on every exchange there is low liquidity for coins depending on the platform. on the other hand, the coin integration on DEX takes time i agree. BUt like each platform got their specific coins i dont think you can blame DEX because for example you can buy BTS only on some platform so is DEX in regards for some coins, give it time i would say
k.gritsyuk
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@simonmercier, lets hope, that money ramps will solve the problem. It will be good to buy some coffee for bitUSD )))