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Bitshares Technical Analysis thread

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chigbolu:
https://www.tradingview.com/x/o3h8KIhA

V-shaped recovery, with neckline @ 0.043 - 0.047...

chigbolu:

chigbolu:

Possible double bottom formation
Current price to watch from this current position...
UPTREND: above 0.07USD
RANGE: 0.07-0.04USD
DOWNTREND: Below 0.04USD

chigbolu:
CURRENT PRICE WATCH
UPTREND $0.16, $0.18, $0.2, $0.29
Range $0.15, $0.14, $0.12, $0.11
DOWNTREND $0.1, $0.087, $0.07, $0.063

On the weekly and daily bitshares is forming an expanding wedge with current top @ $0.164, it is currently falling to the middle of the wedge @ $0.1, hopefully it stays within this range for bearish selloffs, the monthly charts show a parabolic curve formation that has its current peak at $0.164 and bottom below $0.03. The daily and hourly charts show bearish movements towards $0.1.
Our support zones for the current short bear trend lies at 0.1-0.07USD, while our current resistance line sits @0.164USD.

chigbolu:
This is thread where I'll be posting my monthly and daily TA for bitshares and other assets from now on... So... For the month of March bitshares has managed to improve it's position compared to last month and the new support line to look @ currently is 0.07USD.

On the weekly, bitshares seems to be escaping the rising wedge pattern I talked about last month, with a new ascending triangle pattern on the daily chart. It has two major higher lows currently with a possible third @ 0.07USD. The pattern may be invalidated below 0.0635USD but signs of a new downtrend will only begin to show from 0.05USD.

Price range may fall between 0.092USD upper and 0.0635USD lower due to bitshares volatility, but a tight range formation at current levels will show good health and hopefully catapult it's price to higher levels.

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