Interesting times for Bitshares and the whole cryptospace in general. I have two big questions at the moment:
1) Will we find support on the green or the red trend line?
2) Have we completed an ABCDE correction?
1) Will we find support on the green or the red trend line?
2) Have we completed an ABCDE correction?
Comment:
The ball is very much in Bitcoin's camp now, of course. The bad news about the ETF delay caused a massive sell-off that dragged altcoins down with BTC. For now, our support is holding. BTS has been showing strength over the past days, even with BTC going down, which is positive, but then again, another strong leg down for BTC might pierce through our support line and down to the next support around the 1500 level. If not, most likely we'll go to the upper trend line around 2400-2500 sats, then down again for what will look like a wave 2, and then the million dollar question will be whether or not we see a wave 3 breaking through the upper trendline.
Comment:
Now that some time has passed, we seem to be going to the lower trendline! Look for a 5-wave structure in that last D-E leg.