Author Topic: BTS TA FOR 12TH AUGUST 2020  (Read 1349 times)

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Offline binggo

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Got it, i will make a short position.

Offline chigbolu

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Bitshares has traded between 0.028-0.0227USD. This means that BTS has slowed down on its uptrend and is now plotting a sideways trend in the range 0.028-0.025USD in the short term. In the long term its still on an upward trajectory, however this would change below 0.025USD which is a critical support for bitshares short term. Below 0.025USD bitshares would drop back to 0.022USD to retest that support and probably back down to 0.0177USD.
Uptrend ---> abv 0.028 -> 0.033-0.04USD
Downtrend ----> below 0.025 -> 0.022-0.0177USD
Sideways ---> 0.028-0.023USD
The hype around the Bitshares 4.0 Update seems to have cooled off as shown in the sideways price, this is coupled with the fact that bitshares was ominously ommitted from the list of defi- coins which would have been a good PR for bitshares and that bitshares has dropped out from the top 100 cryptocurrencies making it even more oblivious to the crypto community. Hopefully the upcoming fork on the 20th of Aug due to the new voting system might drive some fresh interest in bitshares and see the price go up again.