$BTS/BTC Poloniex Technical Analysis / Market Report Update #109, May. 28, 2017.

in #bitshares3 years ago

Hello Steemers!

POLONIEX


1 day Poloniex chart - May. 23, 2017


1 day Poloniex chart - May. 28, 2017


4 hour Poloniex chart - May. 23, 2017


4 hour Poloniex chart - May. 28, 2017


1 hour Poloniex chart - May. 23, 2017


1 hour Poloniex chart - May. 28, 2017

The price was in a hard downtrend last few days, breaking several resistance, first the 3.6k satoshi one which provided a support after the first spike down to 3k satoshi, with a new local low at 2.4k satoshi on may 24th, after which move it got pulled back up above the 3k line and made a small bounce to 2.4k satoshi and then dipped further down, first stopping at the ~2.7k line then dipping further down and making a new local low at 1947 satoshi.
It then got pulled back above the 2k support line and made a bounce spiking through the ~2.7k line after which followed another few hours of downtrend with the price now being traded around 2.5k satoshi.

VOLUME COMPARISON


*BTS/BTC volume Poloniex May. 23, 20179


*BTS/BTC volume Poloniex May. 28, 20179


BTS indexed global volume May. 23, 2017


BTS indexed global volume May. 28, 2017


Coinmarketcap top volume cryptos May. 23, 2017


Coinmarketcap top volume cryptos May. 28, 2017

Overall volume about 21% lower then on May 19, $BTS on 13th place on the volume rankings.
Poloniex volume about 40% lower then on May 19, volume ~2850 BTC.

COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!

If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
Have my charts helped you in any way?Let me know with a comment below :)
Are there more people who are doing TA?
Please post the links to your TA's posts into the comments as well!

DISCLAIMER
I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
Everyone who uses TA develops his own unique charting style, please keep that in mind.

Kind regards, OZ

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Nice charts.

Check my blog for weekly silver calls guys! I make a new call for the week every Sunday with updates during the week. I give instructions on SL, TP and entry with silver.

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Cheers guys.

COMMENT

For tomorrow I expect the price to go down to the 2.2k line (which was used as previous high point) and then turn there in order to try a retrace upwards, with the target in my opinion being the 3k satoshi resistance.

Yeah, that's pretty much what I was thinking earlier as well.

Oh, and thank you for the organized charts, much easier to understand!

What's vital is after piercing through the support of this new range, yesterday's candle rallied back to it (forming a hammer candle) and today we are holding .00040. We need a green candle today to confirm atleast a bounce maybe.
stmprc527.JPG

this is a BTS not a STEEM update :)

OMG, totally brain fart. Juggling too many charts and posts at same time. I need to close some tabs...lol. Thanks for the analysis as always though, recently got some BTS exposure.

Thanks for your updates!

nice....upvote and resteem for your post...

I am Bitshares Fan since the first minutes! Lets wait that the community will wake up and recognize this technology and use it! I will inform people about bitshares and other dezentralized exchanges and platforms on my blog, too!

There's the man with the plan!

  • hey buddy!!

thanks for sharing such a nice post!

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