BitShares Technical Analysis for 03/22/2016 – Pivot Level Overview

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!

Related Post

 

Disclaimer:  This is not trading/investment advice!

Chart source: https://poloniex.com/exchange#btc_bts

If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Traderman

Avid blogger, entrepreneur, and cryptocurrency enthusiast. I love writing about cryptocurrency, NFTs, price analysis, and much more!

Share
Published by
Traderman

Recent Posts

Ethereum Down While Bitcoin, Solana, and JetBolt Skyrocket In End November 2024

Ethereum stumbles as Bitcoin surges past $97K, Solana eyes new highs, and JetBolt’s presale shakes…

1 hour ago

Top 5 Best Crypto Presales to Grab Now: Don’t Miss These December Week 1 Gems

The crypto market is a buzz with promising presales as 2024 draws the curtains. With…

1 hour ago

Cheems Surge On BSC Network: A Rising Star With Growing Market Value

The Cheems token on the Binance Smart Chain (BSC) is gaining significant momentum, surging by…

10 hours ago

Lester Token Crashes 40% Following Official Announcement

The value of $LESTER plummeted by 40% in the past 24 hours, leaving its market…

10 hours ago

From $30K To Millions: The Wild Journey Of $Quant And Xiaohaige’s Memecoin Stunts

In a bizarre turn of events, a young live-streamer known as Xiaohaige created the memecoin…

10 hours ago

Whale “convexcuck.eth” Makes Bold $CVX Move, Nets Significant Profit Amid Price Surge

The crypto whale known as "convexcuck.eth" has made waves in the DeFi world, spending $2…

10 hours ago