Categories: CoinsMarket Analysis

BitShares Technical Analysis for 12/22/2015 – Bear Market

BitShares recovered somewhat during the first half of November, but the second half of the month marked the start of another bear market. The 0.0000095 area has now turned into a major pivot zone, acting about four times as resistance since the beginning of November.

The bear market started around November 16, and the trend line is clearly visible on the 4-hour chart. Price has fallen lower every single time it has touched this line! So it is clear that market participants are aware of this area.

The 0.0000085 price level is also of great technical significance. This pivot propped-up the market about six times in the last thirty days. Price then used this level as resistance on the 17th of December. Unless the market can close above 0.0000085 and the trend line, bearish sentiment is very likely to persist.

Related Post



Disclaimer:  This is not trading/investment advice!

Chart source:

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.

Published by

Recent Posts

These 3 Recently Released Metaverse Coins Gained Over $100 Million Market Cap in Under 24 Hours

There are dozens of new cryptocurrencies getting listed on decentralized exchanges every day. Some end…

7 hours ago

These 2 Meme Coins Gained Over 300,000% in Price Last Week, but There’s a Catch

Meme coins continue to dominate crypto markets, as many are seeing incredible price gains even…

10 hours ago

Top 15 Metaverse Coins With a Unit Price of Under $1

Metaverse coins are the current hype in crypto, and many people are looking to make…

16 hours ago

123 Swap Announces the Launch of a Strategic Partnership With Avalanche With New Addition to Its Cross Chain

123Swap today announced the integration of its unique decentralized, non-custodial cross-chain architecture into Avalanche (AVAX).…

1 day ago

Top 13 Metaverse Tokens With The Highest Price Gains Today

With Metaverse being all the hype in crypto, there are plenty of projects that are…

2 days ago

Connecting AI with a strong Play2Earn game on Blockchain

How dotmoovs is making you compete against others in the real world by using your…

2 days ago

This website uses cookies.