BTS USDT BitShares Technical Analysis

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By Frans van Elst

BitShares logo In this BitShares technical analysis, we will examine the current price action, trading volume, key levels and indicators for BTS-USDT. BitShares (BTS) is a decentralized exchange and cryptocurrency that utilizes a unique proof-of-stake consensus algorithm called “Threshold Signature Scheme” to secure its network. This allows for faster transaction times and lower energy consumption compared to other proof-of-work based blockchains. Additionally, BitShares features a flexible and modular architecture that enables the creation of custom tokens and decentralized applications on its platform.

BitShares Price Overview:

As of June 13, 2024, BitShares is trading at approximately 0.0054 USDT. Let’s dive into the detailed price action for BTS-USDT:

Anticipate potential setbacks for BitShares (BTSUSDT) at 5.40e-03 USDT through bearish technical analysis, emphasizing weakened support and cautionary indicators.

Metric Value
Open (O) 0.00522
High (H) 0.00548
Low (L) 0.00512
Close (C) 0.0054
Volume (C) 32,395,584.50
  • Open (O): The opening price for today’s trading session was approximately 0.00522 USDT.
  • High (H): BitShares reached a daily high of around 0.00548 USDT.
  • Low (L): The daily low for BTS-USDT was approximately 0.00512 USDT.
  • Close (C): At the time of analysis, BitShares is trading near its daily close of 0.0054 USDT.
Metric Value
1D Change (%) 3.25%
3D Change (%) -10.60%
7D Change (%) -26.73%
30D Change (%) -48.72%
90D Change (%) -41.75%
YTD Change (%) -35.56%

Over the past three days, BTSUSDT has decreased by approximately -10.60%, showcasing increased market volatility. Throughout the last week, it continued to fall, with a loss of around -26.73%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BTSUSDT maintaining a downward trend of approximately -48.72%, despite intermittent fluctuations. Examining the last 90 days, BTSUSDT has witnessed substantial fall of approximately -41.75%, reflecting strong long-term confidence. Year-to-date, BTSUSDT has steadily declined by around -35.56%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

BitShares Live Chart:

You can access a live price chart for BTS-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 2.01399.
  • Momentum score is -0.50185.

BTS USDT Technical Analysis

BitShares Trading Volume:

The trading volume for BitShares (BTS) over the past 24 hours has been insignificant, with approximately 32,395,584.50 USDT traded against BTS. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): BTS is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): BitShares is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for BTS-USDT is currently in the low zone, around 34.57071. This suggests that BitShares is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

BitShares (BTS-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.

Anticipate potential setbacks for BitShares (BTSUSDT) at 5.40e-03 USDT through bearish technical analysis, emphasizing weakened support and cautionary indicators.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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