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Bitcoin is pumping, what's wrong with the alts??
We are coming to the terminal end of Bitshares correction, that once finished, will yield solid rewards.
I expect Bitcoin to retrace back onto trending support which will cause the alts to do the same. Don't get to excited just yet!
With all of this fear in the market any signs of Bitcoin going back up will bleed the alts because of people selling their positions to FOMO into BTC.
Taking a look at the daily we can see Bitshares has been accumulating in this triangle pattern for the last 7 months.
Price is slowly but surely working its way to the end of the triangle, but we need one more retest back onto support of the 100 week MA.
Once price gets a retest i expect this to give enough momentum back into the market needed for the break of descending resistance.
Will keep updated as price matures.
God Bless, Vajolleratzii
Bitcoin is pumping, what's wrong with the alts??
We are coming to the terminal end of Bitshares correction, that once finished, will yield solid rewards.
I expect Bitcoin to retrace back onto trending support which will cause the alts to do the same. Don't get to excited just yet!
With all of this fear in the market any signs of Bitcoin going back up will bleed the alts because of people selling their positions to FOMO into BTC.
Taking a look at the daily we can see Bitshares has been accumulating in this triangle pattern for the last 7 months.
Price is slowly but surely working its way to the end of the triangle, but we need one more retest back onto support of the 100 week MA.
Once price gets a retest i expect this to give enough momentum back into the market needed for the break of descending resistance.
Will keep updated as price matures.
God Bless, Vajolleratzii
Kommentera:
Kommentera:
Prices fell through the 100 week SMA. Were currently retracing within this descending channel. At the base of the channel we have the trend line we have been accumulating on for the last 6 months. If we get a lower low from where prices are currently sitting it looks as if we could be in store for a bullish divergence on the RSI.