BitShares was trading around the 0.0000086 area since the 26th of November. The market bounced from this level very decisively today. The 0.0000086 area has now acted as support about four different times, and also once as resistance, when price was trading under it on the 30th of November.
The 4-hour chart is also showing a very clear Head&Shoulders technical formation. This pattern is signaling that the market may be getting ready for another break north.
If price starts to rally over the next few days, there is another pivot level that may cause some problems. The 0.0000095 pivot zone – which I outlined in my prior BitShares technical analysis – is still very much in play. Today’s big rally stalled as soon as price penetrated above 0.0000095. If price manages to break above 0.0000095 – let’s say to 0.00001 – then this pivot zone will most likely turn into support once again, and a bull market will be very probable at that point.
Disclaimer: This is not trading/investment advice!
Chart source: https://poloniex.com/exchange#btc_bts
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
Step Finance has disclosed a significant security incident involving its protocol-owned funds, marking one of…
The crypto industry is once again grappling with a rising wave of security breaches as…
Ethereum co-founder Vitalik Buterin is once again challenging a popular crypto narrative, this time around…
Shockwaves moved through the Solana ecosystem after DeFi dashboard and portfolio platform Step Finance confirmed…
Tether has released its Q4 2025 quarterly attestation, and the numbers confirm what much of…
Lighter is officially stepping beyond its roots as a high-performance perpetual DEX with the launch…