Just snapped the upper resistance line the 4-hourly top points - that gives an apex of the triangle somewhere around november 12th, so we might have some more waiting to do. In the meantime, I don't think the recent BTC moves are convincing. If and when we go over 6800, I'll change my view (and position) from short to long.
thomasvandenabeele
⋅
Indeed, decision time! I had slightly narrower channels which were invalidated, but the volume was so low, and in the end it was still a series of lower highs, so I'm definitely not qualifying that as a breakout. For some reason, the majority of posters and commenters seem to believe that going deeper than previous resistance around the 1460 level is almost impossible, but I think that's foolish: markets can go either way.
For the time being, I'm shorting, but as soon as we start making higher highs with a bit of volume, I will switch. Still, at this moment, it's all about being on close watch for Bitshares and Bitcoin.
kronjx
⋅
@thomasvandenabeele, Thanks for your comment. Volume is really boring at the moment for sure however I am quite bullish for BTS because of the support level is really critical and we are not in market crash situation now. Anyway BTS depends BTC's moves as others. Both directions are possible to be occur
thomasvandenabeele
⋅
@kronjx, the support level is critical and real, that is true. But the descending resistance line is also very critical and real. And there are market crashes as a scenario down, but also a slow descent because people lose interest because there are no gains to be made.
But in the end our difference in view is not important: we both agree on the fundamental issue, that both directions could occur, depending on BTC.