Drop in BTSBTC
There has been a large drop of 25% to 40% in bitshares / bitcoin value. This follows immediately after my sell recommendation given here. The volume confirms a continued downtrend.
I doubt another increase, unless volume spikes. It has tested my longterm trendline before and it is currently testing it again. If the line does not hold, more down is certain.
I would short only on the confirmed downtrend.
Confirming the observation using the RSI
The RSI is currently still 60 and which means that the stock is not overbought, but still higher than a neutral value. As before, RSI is a helpful indicator which in this case it is useful as a recommendation not to buy.
I have recommend selling the position completely previously and would still recommend a sell at this time if you have not sold. I expect the downside to continue.
Till next time,
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