BITSHARES Next Cycle Projection
From time to time I used to do a sort of "Prospective" study on some cryptos which I am interested on.
This is a simple and easy analysis that gives you some good indications about potential projections of the price at mid and long term.
It combines the use of some trendlines and Elliot Wave counts to 1 day Candle chart.
This time I will analyse BITSHARES 1Day Chart, trying to have a time frame of more than 2 years.
I would prefer to take a Candle chart from Binance but for this time frame is impossible:
- First of all, I have identified the Simple Elliot Waves 5 Waves Up 3 waves down corresponding to an Elliot Cycle.
- In the timeframe that I have chosen we can identify 2 complete EW valid Cycles...
- Then, join equal waves by tracing a line and enlarge it till the future so you can "scale" and extrapolate the end of each wave.
Independently of the uncertainty regarding the start of the new bullish cycle, does not look so difficult for BITSHARES to reach 2 USD by the end of the year or beginning of 2019.
Not so many cryptos have a projection chart so clear, mainly because BITSHARES is one of the few "Veteran" cryptos that survives, keeping a very good health and a promising future as one of the most efficient and powerful blockchain technology, together with STEEM and more recently EOS as well .
Let me know your comments about. Hope you like it.
Thanks for reading.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently.
Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Posted at TIMM
Just recently read that Charlie lee said we might be in a multi year bear run and LTC could drop to 20 use. Which I think means then no crypto could break above more or less
Nah Charlie is full of shit then, the bulls don’t have the patience for that. We are in the start of a bull market now, in the denial phase.
I also think like that. what also personally surprised is what going on with credits. I invested long time ago and still don't know. Go out or credits has recovery plan
While I still despise Elliott Waves as prediction tools, I strongly agree with your chart-work and analysis. I consider this to be very probable. Nice work!
Thank you mate
This seems to be accurate, I’m praying this happens!!
Yo las ondas las he medido utilizando Fibonacci pero la proyeccion utilizando los maximos anteriores creo que es indiscutible.
This could play out. But time is an unkown here. It could take months or even years for the next bull market. This market has proven to be very unpredictable.
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STOPTo support your work, I also upvoted your post!