POLONIEX:BTSUSD   BitShares / US Dollar (calculated by TradingView)
Ultimately the market will decide if the correction is over, all we can do is be prepared.
Great analysis! Question, since we have broken the first support line, do you think we are going down to the second at .40? cheers.
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just-joe iliketotrade
@iliketotrade, Yes, I believe the price is heading lower, or at a minimum, I won't be surprised if/when it does.

Wave 2's will "typically" retrace back to the previous degree wave 4. From experience, I've seen them dip well below wave 4, well above wave 4 and sometimes in the middle of wave 4. So, sorry to be vague, but the best I can tell you is a range. The previous wave 4's low is .051.

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just-joe just-joe
@just-joe, sorry, I meant wave 4's low is .033
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Wow! Great analysis. I’m going to need to study this one for a while. Haven’t even heard of WXY yet!

Thanks for the follow up. Question for you. As an experienced trader, in this type of scenario, do you typically hold your position through entire correction or sell midway though (like now if correction moves further down) and try to buy back in at the neckline low point?

In general I’ve been holding as I don’t have the pinpointing skills you have and believe in bigger run up to come. But also think it prudent to not hold during corrections since they could go very low. What’s your most successful approach?

Thanks again for looking at BTS. It seems to have some good fundamentals behind it too which makes it worth studying.

Cheers Just-Joe.
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@feej, That's a tough question to answer since everyone has a different pallet for being "uncomfortable" with their perspective position. With BTS, my position is around .10 cents, so I have plenty of room to let this sucker run. But, in regards to DGB, I believe the neckline will hold and this coin will head to much higher territory. If the neckline doesn't hold, then I would look for options to pull my position. Their are, certainly, similarities between DGB and BTS, and both haven't moved as well as most of the herd, but their day is coming! Hope this helps. Remember, this isn't financial advice, this is me answering the question as to how I will personally handle the price moving forward.
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@feej, one last thing. if you sell, what will you move to? I believe BTC will go lower as well, so their is no gain to move back to bitcoin, since that me be heading lower as well...unless you have the option to move to tether or something of that sort? And then, timing? Will you be able to time the next entry?
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feej just-joe
@just-joe, thanks for sharing your approach. Totally agree that the triangulation of altcoin-bitcoin-tether/fiat makes quick moves in-out really tough. Especially when price starts dumping or pumping in true crypto fashion. Thanks again.
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@feej, You're welcome! AND, now add in the new tax laws if you're in the U.S. Crazy!
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