BitShares (BTS) Revised Target to $1.83
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SUMMARY
After an executed bullish ascending right triangle, price continues up for an extended period. As you can see in below chart, the a,b,c,d,e waves of the ascending right triangle was completed with vintage precision. Now, Altcoins and Bitcoin just loooove triangle patterns. When in doubt, the correction will likely be an a,b,c,d,e triangle. The reason is because of the personality trait of Cryptos. They behave differently from stocks which is often heavily manipulated and so the waves are often bend or stretched. However, cryptos reflect a more purer, unadulterated reflection of sentiment and thus its personality features are easily and readily identifiable as they hare highly repetitive. I've coined the "Hurry & Wait" personality feature of cryptos because they don't waste any time putting in the impulse 1,2,3,4,5 waves but when it comes to completing a correction...they are slower than molasses flowing uphill, outdoors in the middle of February in the arctic! I think the a,b,c,d,e seems to be favored by so may altcoins because it allows them to into the time and length of their corrections which has to long and drawn out.
The below chart shows revised targets for BitShares (BTS). And as expected, I've drawn out what could be another a,b,c,d,e consolidation phase before price resumes moving up. The wave 5 target is now $1.83 or so.
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Once it hit's $2.00, I may start taking a few profits.
If it hits 1.83 then it would be a great return for me and just imagine 2 months back where it was and where it is now.
The delisting from bittrex otherwsie proved to be a blessing in disguise for me.
Thank you @haejin for this analysis.
WOW! Amazing target!
https://steemit.com/nuls/@najoh/nuls-revised-target-100-upside-potential
Hello,
NULS is going to move higher very soon, the next target have been revised.
As you can see on this chart the price moved up to the upper parallel channel, this is very bullish.
The first target is 0.000316 BTC then 0.000450 BTC for January.
Fundamentals are strong very strong hands in NULS and the yellow paper coming out this month, the testnet will be released in March and the mainnet in May. The current market cap is very low and we expect a move to the upside of 500 to 1000% in the next 3 to 6 month for NULS.
@najoh very nice comment posted by you.
Great TA and I agree with this also. :)
Thanks for being such a great ambassador for Bitshares tony..i learned a great deal from you when i discovered BTS long ago..can't wait for new coins to be added and new charting features...everyone i talk to said they would move over once this happens...liquidity has increased substantially over the last few months which is encouraging...then with the Arise bank team up this makes it one of the most undervalued coins on the market...i read Visa just backed out of all crypto linked cards...this is where Arise will shine..cheers friend
What if this sell order wall will be sold?
It's designed to shake out weak hands. It will disappear when push comes to shove.
Some more info on buy/sell walls. I believe some whale is trying to pick up a lot of BitShares before it hits or passes the $1 dollar mark.
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Moreover, large cryptocurrency holders, also known as whales, effectively manipulate cryptocurrency prices whenever they can. It is not in their best interest to let currencies break out above a certain level until they are accumulating. A sell wall is often an artificial oppression mechanism to keep prices well below the maximum threshold so the whales can buy up a lot of cheaper coins. If you have the money to manipulate a market, it is only to be expected someone will try to do exactly that.
However, contrary to what some people believe, buy and sell walls are not native to one trader specifically. Once larger buy and sell orders appear, it is only normal others will place their respective readers at that same price point. Moreover, exchanges will hardly ever create buy and sell walls on their own accord, unless it is subject to an existing agreement In most cases, such agreements pertain to an ICO where the developers will agree to buy back an amount of coins at a certain price.
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yep, that book looks bullish to me.
Hey Tony! Love your youtube videos : )
Good observation and thank you for sharing.
these are just bullshit walls. They will disappear.
What does that mean and how will they just disappear. Are you suggesting they are faking a market?
Exactly this. If you have the funds, you can at least try to scare people away and unfortunately it works ever so often. Don't be a weak hand and don't fall for it.
This has certainly caught my attention. I will keep my eye on the order book.
Which tool or program is that?
It's the bitshares exchange platform @ahmedmagds. you can toggle between "market depth" and "price chart" in the exchange.
https://bitshares.org
get some !
It's the gratulation handshake, BitShares you've crossed the $1 mark!
Great analysis master :)
I just posted my take on BTS here:
https://steemit.com/bitcoin/@benkalashnikov/bitshares-bts-analysis-224-potential-profit
Remember, wave III cannot be the shortest wave(;
Thank you for the feedback, that is 100% true, however, I could count it differently and still make the same target. Like this:
I really don't feel like this is correct. You have 1 overlaping with 4 which is not correct. Also, we would have to be within vawe 5 of a higher degree, in order to have such a massive dip as your A vawe suggests.
It's a little difficult to see but Wave 4 is slightly above. I wouldn't focus too much on my correction count at this point, but thanks for pointing it out!
the 5th waves looks alittle extended.
Yeah I know, my take is that given BTS history of having a huuuge extended 5th before, I think it could well happen again. Look here:
That's my view too: https://www.tradingview.com/chart/BTSBTC/P7gd9trf-Bitshares-starring-in-CUP-CEPTION-Target-16000-SATS/
wow from .05 to 1.83
I have been thinking about the future of BitShares and when you really understand what is rotten in many of the traditional exchanges and add up the fact that you don't really own the coins there, there is no other possibility than DEX.
There will be failiures in crypto space, many people have lost and will loose money, there is no denying that. But there will also be coins, that will survive and will have to be traded somewhere.
I couldn't agree more. Bitshares and its decentralization is definitely going to be one that wins. Watch the video interview in this post: https://steemit.com/beyondbitcoin/@terrybrock/stan-larimer-on-the-state-of-cryptos-today. Dan Larimer's father is being interviewed and he pointed out a lot of great insight into why those crypto businesses built by his son (steemit.com, EOS, bitshares.org and peerplays) have massive advantages over the rest of cryptos that use miners to operate the blockchain.
I've heard of Komodo. Not BarterDEX though.
The thing here is that, BitShares has the earlybird's advantage in DEX, while doing a great job at remedying the flaws and lack of practicality of Bitcoin.
PLus, i just read that Visa cut off all links to crypto related cards...this will make the Arise bank and Bitshares collaboration even more important...not sure if it's just a policy issue and will be reinstated, but it just shows how fragile the link between the decentralized cryptocurrency field and large corporations and banks
That is only one of the two biggest companies that provide services for card holders and banks. If they do not see the potential, MasterCard just might.
No doubt tim...very good point my friend..this will be an interesting next few months indeed...i have to make one correction...i thought they cut off all ties but it was just the company Visa deals with who connects and facilitates the TenX cards ...but i have a few friends that have had six figure deposits locked up for weeks and sometimes months when coming from an exchange..i think this is the banks trying to disrupt this industry..it makes sense because we are at the precipice of taking them over, but this really solidifies the importance of what Arise will offer...hope they can pull it off
Well I am from the Czech republic and every institution is slower here than anywhere else, so our banks and government are only now starting to react to cryptos. That's why I had no issues yet.
I do believe that if AriseBank pulls it off, it will be great.
hey shawnster are you saying that TenX no longer have a link with Visa ? do you have a link to the article ?
Yeah...sorry batfinkler...i should have been more clear...the company TenX uses for card issuance Wavecrest got booted from Visa so all TenX cardholders got their cards shutdown..they are looking for a solution, but whenever you link your business to centralized powers that have the keys to shut you down without notice, that's a problem..they already had issues earlier this year , so this doesn't bode well for investor confidence..but they will find another partner...hope this helps friend
Let's hope that they're truly scalable approach is figured out soon than later and others will follow. We need quick transactions with low fees. Dan Larimer's company's seem to be the only ones with a legitimate solution.
The thing I am most worried about, as a software developer, is the user interface. More precisely the chart area. It just is not up to the enterprise standards, provides very few to almost none indicators and is not very usable overall.
Agreed, but it's worth it (now) for the value. By the time they get a more user friendly interface, the price will be much higher
Haha that's very true! 😂
I believe Trading View charts and UI updates are being worked on currently. The UI has definitely come a long way with the recent updates. Make sure you're using the most current version. Go Bitshares!
In terms of usability, I think it stinks. Myself and a buddy bought a crypto that has little trading but has a bright future. We built up the position slowly. In the end, one order came is as open.XXX and the other as rudex.XXX. They define them as being equivalent, but in the end only the rudex.XXX is accepted in the token's wallet. And... every post we've found hasn't been able to actually show us how to convert the open.XXX to rudex.XXX and to transfer to the wallet.
So I completely agree there has to be a big improvement to simplify the interface and do the messy stuff behind the scenes and make it dead simple to order and transfer. I have no other experience, but hope this one is the exception..
Now that you mentioned it, I too, experienced a similar thing. I bought BTS through blocktrades with LTC and for some reason, it showed as it has been purchased through bitCNY. Not that it would be such a big deal to me, but big money people could be afraid of such unexpected behaviour.
@tim3w4rp I understand with centralised exchange you do not own the private keys and therefore the coin. With DEX do you suggest that people store their privates keys themselves ?
Thanks
More or less.
I don't exactly know, whether or not you have the access to a private key to every token that you own through DEX. However I do know, that you do own the private keys to the DEX'es main asset, for example BitShares, but you do NOT own any key whatsoever on centralised exchanges.
I hope that made it clearer.
thanks @tim3w4rp !
Komodo BarterDEX is looking mighty fine too.
Thanks for sharing the link. I have not seen this post yet. And believe me, I've read many on BitShares.
"[..] But there will also be coins, that will survive and will have to be traded somewhere."
Hence my/ the very first rule of investing in crypto: Make sure there is a working product!
Honestly I've gotten rid of everything that is not working or might not be working in the future no matter how great their concept is, for instance ADA. ADA is great on paper but it might as well never work. Will I be missing out on certain gains short term? There is no denying that.. BUT! Will I come out ahead long term? I'd like to believe that I will. To each their own tho.
Excellent point. This is my thoughts exactly. When seeing Haejin's calls on coins, I'm always thinking: "Boy could I have made so much money." But then I realize there is really nothing tangible whatsoever. So for me, buying the cryptos that have a working product and have not been recognized by the masses, such as BTS or Steem, is the way to go.
Upvoted and resteemed.