Author Topic: A Year in Review (BTS) Bitshares Cryptocurrency Technical Analysis  (Read 279 times)

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Offline chigbolu

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Price charts of Bitshares by traded on Binance.  From last year to this year, monthly technical analysis predictions and actual results, with commentary.  Provided by Bitsharescrude

Since November 2018 till date Bitshares has failed to reach the 0.08USD-0.09USD Mark which would have seen it rise back to significance in the crypto world, Its been two years since then and the cryptocurrency has never been thesame, whether it has the potential to reclaim that price is left to be said. For now let us look at the performance of the previous year.

January 1st - February 14th
During this time bitshares rallied from 0.015USD-0.04USD. It was at this time that Binance added BTS/USDT trading pair, at this time also Bitcoin was having a healthy rally. It was a 45day rally at a profit of 170% at the top.

February 15th - March 17th
Bitshares dropped from 0.035USD - 0.014USD in this period, a 66% drop. Much of it could be attributed to profit taking and the famous bitcoin low @3900USD.

March 18th - Sept 7th
This was Bitshares best rally period as it rose from a low of 0.014USD - 0.06USD, an over 300% gain, infact if you bought at Bitshares low of 0.00897, it would have been over 500% in gains during this 175day period. Much of the positivity was Bitcoin's strong rally, Bitshares protocol upgrades and NBS fork. During this time Bitshares was also added as a DEFI coin on coinmarketcap.

September 8th - November 3rd
There was a strong profit taking after the rally as displayed in this period. Bitshares fell from 0.05USD - 0.015USD close to 80% in losses on a 57day time frame.
During this time also Bitshares went through a transition period in governance and New Bitassets were created, BitUSD was global settled and BitCNY repegged in a series of attempt to restore parity to the blockchain.

November 4th - December 20th
Bitshares also had a short rally from 0.015USD - 0.035USD. This rally is attributed to NBS buy back and bitcoin's strong rally.
Bitshares is currently trading at 0.022USD.

Bitshares Major support zone was at 0.014USD. It was supported three times from this price with the exception of the 0.00897USD recoreded on March 13th.
Bitshares Major Resistance zone starts from 0.04USD. It had three rejections at this zone with the exception of September 7th when it rose to 0.06USD.

Prices to watch this year

From to Low High

Major Support 0.006USD - Major Resistance 0.08USD
Range 0.014USD - 0.04USD
Expected Gains 566%
Expected Losses -85%

Bitshares had eight green months last year, lets hope it builds on its achievements from last year.

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Offline BitsharesLabs

Re: A Year in Review (BTS) Bitshares Cryptocurrency Technical Analysis
« Reply #1 on: January 03, 2021, 11:47:26 pm »
Nice! Thanks
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