After a 6 week long markt crash of cryptocurrencies, I thing we are at the end of what we call "an ABC-correction".
An ABC-correction for those who dont know is a downtrend that can take a pretty long time and falls in 3 "waves".
The first wave (A) starts at the very top of the past bull-run (=uptrend), mostly heading down pretty fast.
The second wave (B) starts logically at the bottom of (A) and heads up pretty fast as well, ending mostly around halfway up the (A).
The third wave (C) pul back down again, does it often a bit slower then A and B but seeks much lower points of value..
We think in this case with BTS we will hold our major resistance because its strong, and we have some nice patterns.
Bitshares is starting to find the nose of his descending right now, what means don't take action yet.
keep an eye on our major resistance. If it breaks down, it will continue to fall lower, and we will have ourselfs a bargain on BTS .
If we break the descending on the upside you will have yourself a nice trade...
TRADE: medium risk
SL: 0.00003000 (-13.5%)
TP1: 0.00005500 (+57%)
TP2: 0.00007000 (+100%)
TIME: 2-3 weeks..
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If not wait for new support. I'll update on that too..
If we hold support, wait for it to break resistance..
wait for reversal pattern.
wait for further pricedrop.
i'll keep you updated..
New buy zone: if we close a day candle abowe 0.00002700 put buy order @ 2800
Take profit 1: 0.00004800
Take profit 2: 0.00006000