$BTS/BTC Poloniex Technical Analysis / Market Report Update #107, May. 19, 2017.

8 months ago
76 in bitshares

Hello Steemers!

POLONIEX


1 day Poloniex chart - May. 16, 2017


1 day Poloniex chart - May. 19, 2017


4 hour Poloniex chart - May. 16, 2017


4 hour Poloniex chart - May. 19, 2017

After reaching the ~2.7k resistance on May 16th and trading around it for a while, the price made a turn downwards towards the 2.2k support and made a new higher local low just slightly above it on the 17th of May, at 2266 satoshi. The 18th of May came with a turn in direction once again and the price leaped towards the ~2.7k satoshi resistance, this time breaking it and continuing upwards to the 3k resistance, trading at the highest point just a few satoshi below 3000 satoshi and the lowest point around, what is now the 2.7k satoshi support line.
As we entered today's date, May the 19th the price broke the 3k resistance and went up to the 3.6k resistance where it made a local high in the last runup, breaking it it spiked to 4000 satoshi but then got pulled back down to the 3.6k level, at the moment being traded slightly above the 3.6k line.

VOLUME COMPARISON


BTS/BTC volume Poloniex May. 16, 2017


*BTS/BTC volume Poloniex May. 19, 20179


BTS indexed global volume May. 16, 2017


BTS indexed global volume May. 19, 2017


Coinmarketcap top volume cryptos May. 16, 2017


Coinmarketcap top volume cryptos May. 19, 2017

Overall volume about 131% higher then on March 23, $BTS on 9th place on the volume rankings.
Poloniex volume about 58% higher then on March 23, volume ~5260 BTC.

Volume is rising which also along with the new higher local low might indicate positive trend coming.

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

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!
Sort Order:  trending
64
  ·  8 months ago

Thanks to you I loaded up a ton on BTS and some other picks of yours and told people in the steemit.slack what I was doing, maybe they listened, maybe not, but there is a good record of it. Too bad you were getting downvoted at the time, but hey, more profits for me!!

·
68
  ·  8 months ago

Glad to hear this, has been quite a ride so far, and i doubt we are at the end :)

·
70
  ·  5 months ago

Hello! I think I have a good idea for more profits and I sent you a message in steemit chat! Thanks for your time!

68
  ·  8 months ago

COMMENT


hourly chart

On the hourly chart we can see how the price is in a fight to see if it makes the 3.6k line a new support line or once again act as a resistance level.

In the case of the 3.6k level holding support and the price going upwards, I see it reaching the 4.5k resistance level, which also marks a line from a big fib (as seen on screenshot bellow)

In case of the 3.6k level pushing the price down agian I see it going to atleast 3.2k satoshi where I see a support area which stretches to about 3k satoshi, thus the potential turning point would be somewhere inside that area (marked with yellow rectangle).
Furthermore if this support area fails to hold the next one I see is the ~2.7k level with the 2670 satoshi support line.


daily chart

·
53
  ·  8 months ago

Dude your content is gold to me, seriously.

·
·
68
  ·  8 months ago

glad it helps :)!

·
70
  ·  8 months ago

BTS will make all of us rich!

62
  ·  8 months ago

ozchart is back!

53
  ·  8 months ago

it should keepp going up for a while then next month go down some

38
  ·  8 months ago

Subscribe to Forklog news

49
  ·  8 months ago

It's posts like this that gets you followers. Adding you for future content. :D

48
  ·  8 months ago

Nice post.
Followed....
Checkout My posts 😉

52
  ·  8 months ago

good news...