Bitshares (BTS) Update: Ascending Right Triangle Pattern Spotted!! $0.90 Short Term Price Target

4년 전

SUMMARY

Bitshares (BTS) placed a requisite correction and it has started to consolidate. The pattern it's consolidating into is a bullish ascending right triangle as shown by the white lines. IF this is correct, then the minimum price move is targeted to be at around $0.90 or higher! This chart was drawn from bitshares.org exchange; the FUTURE of ALL EXCHANGE PLATFORMS...DECENTRALIZED!!

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

Follow me on Twitter for Real Time Alerts!!

--

If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf


Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
STEEMKR.COM IS SPONSORED BY
ADVERTISEMENT
Sort Order:  trending

Here's to Bitshares being in the top 20 in no time!

Nice to know :)

·

Get on the train !

Really, almost a dollar!

Dude you are a machine. I love how you joined at around the same time as me and now you are making a KILLING here :-D

KABOOM!

I bought! Thanks!

Awesome information as well still holding.

Thanks Haejin!

Happy update @haejin
While thoughts of alternative p2p dec exchs carry BAD taste after EtherDelta debacle, alternative exchs need to be explored by Crypto enthusiasts Old & New. Security MUST become the #1 mission for Crypto Projects.

·

I don't follow your post. Are you saying alternative exchanges to BTS have to be explored ? If so why ?

Nice! :D Update on BTC please. is 9000$ still the target? or is the market bull-ish?

·

Patience...awareness is key...believe me you are not alone in the waiting room...

·

Yes, I would also be very much interested... It made sense to me to go via extended wave lower to some 10.000, so I sold at 13.300 ... now I am locked in the position around 14.500. I don't want to buy and realize the loss, as well as don't want to to miss the huge train up. What do you think? Is 9k still target? Thank you!!

Has anyone else noticed that this coin jumped immediately upon recommendation? I mean obviously people follow what @haejin has to say because the value his thoughts.

But this does show that perhaps when you have a large enough following you can buy a coin and then recommend it a few minutes later and make a decent profit.

Just saying. I value his insight but also take it with modesty. We are all human and make mistakes.

·

There are about 2.5 billion BTS in circulation. I don't think a post seen by a few thousand Steemit users in the past 25 minutes caused a jump. I'd recommend everyone check out his tutorials on Elliott Waves to gain better insight into how he interprets the markets.

·
·

I agree...he announced right at the apex of a triangle consolidation pattern...many experienced TA's saw this and waited for the break or bought in anticipation of the thrust...but im sure we help :-)

·
·
·

The increase in bitAssets (bitUSD, but mostly bitCNY recently) is the reason for the recent growth in price along with the bullish alt market in general. When bitAssets are created, a short trader must lock up 1.75X the equivalent value in BTS in collateral. So, for every 1 bitUSD there is 1.75X that value in Bitshares locked in a smart contract as collateral and removed from circulation. The more bitAssets that come into existence, the less bitshares there are available to trade, thus increase in price.

·
·
·
·

I know this is awesome..i've seen a huge increase in liquidity these last 2 months...i don't know if this is true but i read in more than one source that the increase in BitCYN liquidity was due to Chinese investors looking for a DEX to use...makes sense

·

I would have to disagree. As sometimes Haejin makes a call for a kaboom and it takes 3 days for it to occur. Other times when he says its imminent bam it goes up within 5-15 minutes. So if the same pattern of all Haejins followers buying when he says it should always have the same affect, but it doesn't. Will you help me setup an experiment and we can get scientific about it?

·
·

uhhh fun, I am in! :)
Although I also do not think his posts affect the market.

·

Lol how did he predict btc fall then ? Did he sell all his btc ? Go watch the tutorials first , instead of saying rubbish .

Btw Bts is a great coin , it's a decentralized exchange .

If @haejin never told me about Bts , i would always think bts is a shitcoin . Thanks to him i know that Bts deserves a top 10 place in con market .

The thing you are talking about is pump and dump , you can see their telegram channel , discord . I lost 50% of my money there .

Nobody lost money in haejin's call .

·

Haejin is doubtlessly BTS best marketer at tis time. There is no doubt that his propagation of BTS' existence makes a big difference, sometimes an immediate one (this is not a bad thing, it might be a very good thing for all concerned).
The comments on your comment are a bit beside the point when they cite "the number of bts in circulation" (what difference does the number of coins as such make) - or that haejin could not have stopped a downward trend - why would he be interested in doing so IF he wanted to influence ? Corrections are always healthy, right ?
Also, the bts retracement went down following the big Bitcoin correction, when even Bitcoin Cash went down - and the BCH crew has surely been manipulating all they could.
When whales pump something, they do it to sell at a high level, and they need that level to come down to buy in again on the cheap, which automatically happens when they sell - I mean, how hard can it be ?
Haejin cannot be expected NOT to use his own predictions for his own benefit just to come over like a copy of Jesus Christ - he has a life, and he must manage his money ;)

·
·

The increase in bitAssets (bitUSD, but mostly bitCNY recently) is the reason for the recent growth in price along with the bullish alt market in general. When bitAssets are created, a short trader must lock up 1.75X the equivalent value in BTS in collateral. So, for every 1 bitUSD there is 1.75X that value in Bitshares locked in a smart contract as collateral and removed from circulation. The more bitAssets that come into existence, the less bitshares there are available to trade, thus increase in price.

Thanks haejin!!! We will take care of the haters

I've heard that #Bitshares #BTS got support from United Nation for a project in Tajikistan 🇹🇯.
$bts should explode very soon.

·

Can you share a source ?

·
·
·
·
·

this is old news, not offense

·
·
·
·

But if one were to look into bitspark, they would have their answer to the UN Tajikistan project...

Love to see the BitShares DEX on display!!

Great user interface, very fun to use, and not to mention the lovely BitUSD!

Thanks haejin. Great report on Bitshares. Any update on BTC correction target?

short term means 1 day or 1 week ?

·

These charts will look even better once they insert trading view charts which i've read they are trying to work on....lots of cool stuff and announcements are coming...2018 will be a very good year guys...hope you all are killing it...thank you haejin as always for your hard work..cheers friend

·

Indeed. I'm very excited for the trading view chart integration. Plus a bitAsset fully redeemable in actual physical gold!

·
·

That precious metals addition is really fantastic...you know what, i bet that may even nudge some of the die hard gold and silver bugs to start investing in digital assets now knowing they can save some of their profits or trading funds in these new pairs...just bitchen!!!!

·
·
·

Exactly. Ron Paul & Co finally decided to start talking about bitcoin. Once they realize that the tool (Bitshares) to complete their dream of competing currencies and baskets of currencies/assets, the whole US liberty movement will hop on board the bitshares rocket. Destination: Pluto, the moon is for amateurs. See ya on the slopes! Sorry I can't upvote you with money. Too new to be worth anything :/

Upvoted and resteemed.
Help all of my friends to get to to steemit by upvoting. I would really appreciate it.

This bullish right triangles makes us happy...

Its good new for steemit users

Cool, a chart from the DEX! Go BTS, exciting times ahead. Happy holidays everyone, and here's to a great New Year for Bitshares and the entire Steemit community!

I had so much hope in this own, but then i choosed monero to invest.

·

Diversify! Next time monero is green and BTS is red sell some monero and buy BTS. This strategy has been working well for me.

·

You should never invest in one coin . I have 5 coins on my portfolio .

Thanks so much @haejin! :)

Thank you.
Which primary count do you think bts is in currently? trying to chart the future . thank you

Wow, it just went up vertically!

It's .60 right now , .92 would mean a 50% profit . Damn !!!!

Woow good post you. Steem you good.hay votes my @radiasi

saw it, googled ascending triangles, and then you tweeted it! thanks for the update! couldn't smash that cancel and buy button fast enough (kept getting your active node is out of sync). oh well, accumulated on the last correction, held some, and will use my profits to try again on another coin! thank you so much!

·

Thats the way to do it. I also had and have more to add if it went lower but if not that goes to my profits. win win Still have long term holdings.

·
·

Thanks for the encouragement! feeling a little bummed but hey, in it for the long haul. just bought some LTC and some Steem to power up and now I'm off to enjoy the rest of the day! should probably go out and finally get my christmas shopping done. that's coming up soon right?

·
·
·

yeah right same here I got to wrap the gifts. but the kids just wont go to sleep. in Norway they celebrate one day early. merry Christmas.

I am a fan of bitshares. Thanks for the free education you are providing for us! All the best going forward!

👏🏻👏🏻👏🏻

We love Haejin Lee, analyst and man! I earn a lot of wealth with his kind free posts and i am forever grateful. Please UPVOTE HAEJIN!

My hands is shaking to buy bitshares haha And you gelo it haha

Too many Chalices of Wealth at the moment!

Thank you!

Will have to find out how to use the Bitshares.org exchange... has anyone yet tried to deal in derivatives there ? As in, virtual gold and virtual bitcoin ?
Because that should be possible...

·

bitGold and bitSilver exist. They are smartcoins that are pegged to the price of their respective metal. Each smart coin is backed by 1.75X the equivalent value in bitshares that are locked in a smart contract. There is also a deal in the works with the United Precious Metals Association to make a bitshares bitAsset pegged to the value of gold and actually redeemable in real physical gold. Good times ahead! Cheers!

·
·

That sounds rather marketable

nice your good jop.thankd for sharing

Thanks for posting this, I was curious after the dip the past couple days. Can you review OMG? Thanks!

Thanks Haejin!
Is the short term 32 cents to 22 cents targets still holding?
I'm assuming so as this is part of the longer term!
Thanks again!

·

I don't think those targets are valid anymore as we have already corrected and in a consolidation phase before a nice move up to $0.90

GOOD informations @haejin
thank you for sharing

Thanks haijin for this bts update!

Thank you sir, great like always, I learn a lot from you (y)

I shall call this the Bitshares Miracle! Very good news!

I saw that @haejin did some massive Investments for BTS. Sorry, for my last Post about why you are selling all your BTS. I was a bit frightend because of the flash crash, and i am also pretty new in crypto... Sorry BRO ! Happy X-Mas !

There was a reverse complete head shoulder just below Jaws of wealth trend line yesterday. This right triangle pattern adds to the bullishness of BTS. Thank you haejin!

Thank you.

Cant upvote your posts, have one of the trolls done something?

Nice. So is BTC not plummeting today as forecasted this morning causing all alts to go down as well?

Hey Haejin, I previously posted my Techinical Analysis on Blocknet (BLOC) as a reply of one of the other coins. It is another decentralized exchange like BTS, and 0X which you just previously looked at. Was wondering if it is possible that some event may sky rocket all three! Thanks so much Haejin!

I'm curious what you guys think of the Arise Bank situation... is it legit? Is it a scam?

·

It sure seems fishy. IMO it will not have much negative effect if proved scammy though.

·
·

my concern is, the bitshares team is all about it

This is one of my first counts, I think this might happen.
triangle.PNG
This is only my own opinion, make of it what you wish.

·

Lower triangle line has been breached. The secondary count is much more likely now. We should see lower lows in the neighberhood of 0,25.

·
·

Hi Tim, what do you make of that candlestick at (D), shooting star? is this further confirmation of bearishness and so another low? how did you get .25 as a target? correlated with BTC price action?

·
·
·

Honestly, I'm not too much experienced with either charting, nor elliott waves.
Also, theese are no longer valid. There seems to be an ascending triangle pattern going on. But then again, I really am not sure if the lines can be breached while testing the resistance.
Výstřižek.PNG
This is only my opinion, make of it what you wish.

This is my secondary count for current situation.
ABC.PNG
This is only my own opinion, make of it what you wish.

The cool thing about BTS is the Smartcoins using BTS as collateral for it's value. So as the circulating supply keeps shrinking and more exchanges keep using it. Guess where the price is going? UP!