The graph of BTSUSD above shows my TA on BitShares price. Some think that the correction is already over, and some believe it is going below $0.20 before it bounces.
I believe, from pattern recognition and using EW, that it is going to bounce to about $0.50 (maybe more maybe less) and then finish it’s full correction down to or below $0.20. From there, it should rebound to above $1
Here is a closer look at the sub waves of the correction wave. It appears to be a flat correction (3,3,5). If you look carefully, you will be able to see the 3,3,5
There is a possibility that the correction is over but I feel like it happened way too fast, most corrections for alt coins take awhile, especially after the bull run we had to $0.92.
I would like to see this TA happen because then it would help strengthen the bull run to past $1, hopefully to $3+ soon.
I’ve seen other people predict this to be an A,B,C,D,E correction, meaning there would be one more lower low before it bounces, but after observing the patterns from BTS and BTC and using basic Elliott Wave rules, that doesn’t seem like to me it will happen.
My original TA also matches up with BTC TA because they seem to be on the same path right now after the correction so we should see BTC have a bounce as well and then correct fully after that.
Comment below what you think will happen and upvote if you liked what you saw. It is an exciting time to try and stock up before all the cryptos explode again!
Thanks for reading!
BitshareBoy
*Remember that cryptocurrencies are very viotile and these TA’s are just predictions. This is my personal opinion. Please trade responsibly.