Bitshares VS Bitcoin: bearish short-term ?
cryptocurrency·@toucancrypto·
0.000 HBDBitshares VS Bitcoin: bearish short-term ?
<html> <p><img src="https://ipfs.pics/ipfs/QmZ2cwpEDbCT3L11gXdjzzjKQ8VpExFmBy4xPXZ3KZhH22" width="572" height="139"/></p> <p>Today Bitcoin broke above its <a href="http://www.stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:falling_wedge_reversal">falling wedge</a>, a bullish reversal pattern, although I'd like a good volume for confirmation:</p> <p><img src="https://cdn.steempix.com/i/q4xBY7rRK8j.png" width="931" height="602"/></p> <p>Historically, when Bitcoin rally, its dominance over altcoins increase, and cause the laters to drop sometimes considerably.<br/>Only then, they start pumping like crazy.</p> <p>The BTS/BTC chart shows a <a href="http://www.stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:rising_wedge_reversal">rising wedge</a>, a bearish pattern, while possibly being in the re-distribution phase of a <a href="https://steemit.com/cryptocurrency/@toucancrypto/the-basics-of-a-wyckoff-cycle">Wyckoff cycle</a>.</p> <p><img src="https://cdn.steempix.com/i/rG5wY9BD18g.png" width="931" height="602"/></p> <p>There is a surprising number of resistances here:</p> <ol> <li>The 38.2% Fib. level</li> <li>The daily MA-30</li> <li>The trend-line of the rising wedge</li> </ol> <p>My current strategy is to sell BTS for BTC if a clear break-out of the wedge's bottom happen. Then buy back at levels marked by white-dotted lines.</p> <p><br></p> <p><em>Legal disclaimer: Sue me if you lose. I will go to jail and give you my money. I am responsible for what you do. By reading the article, you did accept to comment, vote, and resteem it.</em> </p> </html>
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