Community post
Bitshares-Bitcoin-USD technical analysis 16th Feb 2018
It is not something new that BTS depends on BTC moves, so BTC needs to confirm bulltrend. How to know the BTC Bulltrend is confirmed? easy, we need to plot a simple fib to se retracements, 38.2% and 61.8% are the main resistences/supports, so when BTC hits these values it will, almost 99% for sure, bounce, but after the bounce there will be two additional retries, so if trend is strong it will break up. So, the real war between bears and bulls will occur at 12k. If a break up then the next target is to break 50% of that fibonacci as 50% is usually the bounce point to cotinue the bearmarket to the same bottom or even lower.
Bitcoin next days
Bitcoin (weekly timeframe)
BTSBTC (day timeframe)
BTSUSD (daily timeframe)
Replies (6)
Looks really good!
Nice information... thanks so much!
Join us to the trading group at Telegram https://t.me/bitsharestrading
Thanks bruz! Love bitshares, faq the exchanges.
Guys sorry but anyone for a smile on a crypto comic?
https://steemit.com/cartoon/@jsonkidd/cryptoons-crypto-experts-edition
I already voted your comic ;)
Bitcoin already reachead 54.5% at RSI at weekly timeframe, that means RSI will be on that ratio to the end of this week, which means price will go to reach the target (see Bitcoin weekly timeframe chart) then it will bounce. Remember RSI moves slower than the price does . I think RSI will go to hit 50% ar a bit less the next week, or the next two weeks more less.