BITSHARES TECHNICAL ANALYSIS: Correction is completed? Time to buy...

According to the chart below we should see soon the end of the long correction and the start of a new EW Cycle.

  • BITSHARES is completing now a 5-3-5 ZIG-ZAG retracement correction

  • Currently forming the last wave leading to (v).

  • The extension of (v) is uncertain but it could between 0.27 and 0.25 USD.

  • These prices still correspond to a value between the 61.8% and 78.6% Fibonacci Retracement levels which indicates that completion is imminent according to my understanding.

  • If this count is fine we should see the start of a bullish 5-wave cycle, the third wave may reach 0.7 USD. As usual, depending on the extension of the 3rd wave we could better forecast the 5th.

Personally I am investing 50% of my planned investment at the current price (0.31 USD), 25% at 0.27USD and 25% at 0.25USD.

@toofasteddie

*This is just my personal point of view, please, do your own assessment and act consequently.

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