BitShares Technical Analysis for 11/03/2015 – Bear Market Continues!

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It really is a bloodbath for BitShares this week! In my last BitShares technical analysis on the 20th of October, I outlined the importance of the 0.000014 level and how this area can turn into resistance under certain conditions.

Well, that is pretty much how it played out! The 1400 Satoshi level, which was a huge level of support ever since BitShares started trading on Poloniex, has now turned into a monster resistance level. Once price slipped underneath 0.000014 on the 22nd, it stayed under, with many failed attempts at closing higher! Since the 22nd of October, the 0.000014 area acted as resistance on five different occasions, until the bottom finally fell out yesterday.

Read More: http://themerkle.com/market-analysis/bitshares-technical-analysis-for-11032015-bear-market-continues/