Bitshares-Bitcoin-USD technical analysis 16th Feb 2018

It is not something new that BTS depends on BTC moves, so BTC needs to confirm bulltrend. How to know the BTC Bulltrend is confirmed? easy, we need to plot a simple fib to se retracements, 38.2% and 61.8% are the main resistences/supports, so when BTC hits these values it will, almost 99% for sure, bounce, but after the bounce there will be two additional retries, so if trend is strong it will break up. So, the real war between bears and bulls will occur at $11.1k~$12k. If a break up then the next target is to break 50% of that fibonacci as 50% is usually the bounce point to cotinue the bearmarket to the same bottom or even lower.

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