Crypto Analysis Spotlight 2017.12.13 – BitShares, volatility abound!

[boontjie]

Volatility in BTSBTC value

Previously I mentioned we are in the accumulation phase and recently there was quite a lot of volatility in the price the last week. This has been continuing for a week or two.

I have seen many technical analysts indicate a long. We are still in the accumulation phase and a drop is still possible. I mentioned I bought at 0.000013 and I am still holding.

On the daily I still cannot see a definitive change in volume to indicate a new trend. Thus we are still continuing in the accumulation phase.

Confirming the observation using the RSI

The RSI is currently 55 and this is neutral at current.

The prediction

I mentioned last two times that a long is recommended. I still recommend the long, but keep holding. It might still take a while, but the upside is real.

Till next time,
Tinus

** Images courtesy of tradingview.com

Comments

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[bigpanda]

So where do you think BitShares is headed, long term? I have had my eye on picking up a few of these for a while. Maybe I should right now.

[boontjie]

It will go high, but the current volume is still not convincing. I think if there is a drop there will be some margin calls. It will still take a while to reach fair value. This does not mean it wont have a run right now of course.