Bitshares has gone down lower and crossed the 300 day moving average. If it doesn’t bounce back then it will be probably go down even lower. We would need to notice where Bitcoin is heading because Bitcoin is the boss of all crypto coins as they all depend on it. In case Bitcoin goes lower then Bitshares will probably lose even more of it’s current value.
NOTE:
Technical analysis employs models and trading rules based on price and volume transformations, such as the relative strength index, moving averages, regressions, inter-market and intra-market price correlations, business cycles, stock market cycles or, classically, through recognition of chart patterns.
In finance, technical analysis is an analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume.
https: // en.wikipedia.org / wiki/ Technical_analysis
