$BTS/BTC Poloniex Technical Analysis / Market Report Update #112, July 11, 2017.

ozchartart (76) in bitshares • 7 years ago

Hello Steemers!

POLONIEX

1 day Poloniex chart - June 21, 2017

1 day Poloniex chart - July 11, 2017

4 hour Poloniex chart - June 21, 2017

4 hour Poloniex chart - July 11, 2017

1 hour Poloniex chart - June 21, 2017

1 hour Poloniex chart - July 11, 2017

After the last update the price broke the 11.4k support line and went down to the blue 10.5k support line, spending a few days trading between those 2 lines.
On the 23rd of June the price bounced up making a new lower local high at 12.8k satoshi and soon after started going down slowly, breaking the 11.4k support once again and in this run also the 10.5k one.
On the 26th came a bit harder dump resulting in a dip bellow the next, ~9.2k satoshi support line, with a new local low made around 8.2k satoshi, thou shortly after reaching the new local low the price picked up and continued trading above the 9.2k support line with occasional spikes to the 10.5k line.

As we entered J8ly the price started going down further, with a slow downtrend to 8k satoshi, after which came a rather hard bounce to the 10.5k , now resistance, line on the 4th of July.
Right after the bounce the price started dipping again, breaking the 9.2k support line and making it a new resistance.
The first next support was around 7k satoshi, where there is a support line as well as a fib line ().
Although the price did stop there and made a very small bounce the 7k levels didnt menage to provide enough support and the price went down even further reaching the 5k support line today, it spiked bellow it making a new local low at 4.65k satoshi.

At the moment the price bounced and is now trading around 5.5k saotshi.

VOLUME

BTS/BTC volume Poloniex June 21, 2017

BTS/BTC volume Poloniex July 11, 2017

BTS indexed global volume June 21, 2017

BTS indexed global volume July 11, 2017

Coinmarketcap top volume cryptos June 21, 2017

Coinmarketcap top volume cryptos July 11, 2017

Overall volume about 46% lower then on May 30, $BTS on 8th place on the volume rankings.
Poloniex volume about 13% higher then on May 28, volume ~5382.16 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

bitshares beyondbitcoin poloniex trading technical-analysis

7 years ago by ozchartart (76)

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ozmaster (68) · 7 years ago

COMMENT

1 day chart

In a case where this support level holds I would see the price bouncing to at least the 6.9-7k levels but also have to warn everyone that there is a potential for a much bigger bounce (to some ~11.5k ) due to this downtrend being very sharp and volatile.

In case of a downtrend I'd first like to draw the attention on the fact that we are entering some tighter support levels (meaning that the spread between support lines will get less and less).
That being said I would expect the price to go down to the ~3k levels where i drew the thin red line (which is actually another fib line as seen on this part of the weekly chart ).

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15 votes

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hamzaoui (55) · 7 years ago

Good Post

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1 vote

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booster (68) · 7 years ago

This comment has received a 0.07 % upvote from @booster thanks to: @hamzaoui.

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isjw84 (50) · 7 years ago

Awesome

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1 vote

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bulsik (59) · 7 years ago

Dear Below guys,
@ngc
@newsflash
@nextgencrypto
@ozchartart
@berniesanders
Stop downvote Our attendent event posting everyday in Kr tag. the attendant
https://steemit.com/kr/@redbanana/11-27-steem
You should stop the downvote seriese attack without any reason.

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1 vote

[-]

gunsmasterrock (47) · 7 years ago

is time to buy cryptocurrencies

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1 vote

[-]

mohammedfelahi (57) · 7 years ago

technical

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freshstuff (57) · 7 years ago

Monowar is the best known thing today

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[-]

khaiyoui (83) · 5 years ago

hello. I know this is irrelevant with your post. but this is only way to communicate with you as you dont have recent post. and I wonder if there is any reason why down vote on my post.
I dont know you well. but I want to know why it happens and if there is anything I can do about it.
I cant say I'm the best steemian but I'm trying it keeps going. so it will be nice if u tell me why it happens.
thanks :)

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[-]

sqamemal (52) · 7 years ago

Hey ozchartart, its been a long time since you've been regularly posting. Is it the strong downvotes on your posts that have been keeping you away from here?

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outhori5ed (66) · 7 years ago

wooooow....technical

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andips13 (42) · 7 years ago

Great analysis, I think you made a lot of valid points about bitshares . I believe it will go bellow 4.65 hiring a new low!

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dan79 (25) · 7 years ago

Interesting post...this crypto currenties wil change the world and make it bether i hope..

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dollface (36) · 7 years ago

Upvoted and also resteemed :)

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englishtchrivy (72) · 7 years ago

not related on the post
I haven't seen you on my page
but today I did
and you even gave me a full blast of support
thank you!

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[-]

yugasini (27) · 7 years ago

I have already invested my hard earned money before the crash, now I do not have money to buy further to cover my loss.

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ssekulji (74) · 7 years ago

thanks :)

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ricko66 (65) · 7 years ago

Thank @ozchartart it looks like this will go for some time but i believe we don't have to panic it is a long term game and its happen in every market. ^ and follow you

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almuzammil (39) · 7 years ago

good tips, very helping @ozchartart

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africa (72) · 7 years ago

hey upvoted and followed ! check my blog about cryptos :) follow for follow ?

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steemitboard (66) · 7 years ago

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a-jeffrey (45) · 7 years ago

Please vote, follow and leave a comment! @a-jeffrey

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charles1 (68) · 7 years ago

Poloniex is still a problem for many now..however thanks for this.

I mentioned you on my post regarding bots, feel free to see it and send in your comment. I wish you more success and hope that we stay in touch.

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yasu24 (70) · 7 years ago

Nice post ! I followed you.

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steemitboard (66) · 7 years ago

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yash0108 (56) · 7 years ago

Nice info great good job bro. I'll follow your account to see how you doing. Because i earnings as like you
@yash0108

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steemitboard (66) · 7 years ago

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steemitboard (66) · 7 years ago

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academix87 (46) · 7 years ago

thanks all my steem family... thanks for sharing gread post

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steemitboard (66) · 7 years ago

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bitfairy (57) · 7 years ago

The bears are here :)

My portfolio is bleeding 😱

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cryptokraze (72) · 7 years ago

I think the overall market sentiment is bearish so best technical analysis is to stay away from opening new positions.

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bits-stib (42) · 7 years ago

u just showed what happened before... thats just past data... whats your view ?

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rezalhok (60) · 7 years ago

Nice and perfect in the post.@ozchartart

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haejin (88) · 7 years ago (edited)

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