Crypto Analysis Spotlight 2017.12.25 – BitShares, engine up!
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Bulltrend in BTSBTC
There has been a large increase in bitshares value. This has given the illusion of an uptrend. This was initially confirmed by some volume, but this activity has died down.
I think the price will be flat or see some decreases in the near future and we should wait for the correct to enter.
I repeat, as I am still not sure this is a definitive move upwards I am waiting.
Confirming the observation using the RSI
The RSI is currently still 79 and which means that the stock is overbought and in a decrease in price is to be expected. As before, RSI is a helpful indicator which in this case it is useful as a recommendation not to buy.
The prediction
I currently recommend selling the position completely. The upside will subside.
Till next time,
Tinus
** Images courtesy of tradingview.com