The 0.0000135 price level – which I mentioned in my last Bitshares technical analysis – is continuing to exert its influence on the market. Between the 18th & 21st, the 0.0000135 pivot zone acted as resistance three times, and also three times as support. If you haven’t yet market this pivot level on your charts, I recommend that you do so now.
Since the 18th of March, the 0.0000144 price level has been respected by the market quite a bit. This area prevented price from breaking out about four times between the 18th & 19th. When the market finally burst above this level yesterday, and subsequently retraced, the 0.0000144 level turned into support. If price slips back underneath this level again, a drop down to 0.0000135 will be the most likely outcome, otherwise, the past of least resistance from here is upward!
Disclaimer: This is not trading/investment advice!
Chart source: https://poloniex.com/exchange#btc_bts
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