![](https://steemitimages.com/DQmS1eA6JFCAeWPvySTJLLBtrRtSGtAoq7gRM7U2bhjab84/image.png)

Bitshares is trading weak today and this weakness has become more concerning as it is trading below 10 Days EMA at 11K Satoshi for first time since it had hit a all time high of 17k Satoshi on 10/06/2017. In my last update on  19/06/2017 (https://steemit.com/bitshares/@jimmyrai28/bitshares-bts-btc-update-19-06-2017-distribution-is-still-on-good-sign-or-bad-sign) , i have shown concern on distribution pattern, and this concern I am afraid is becoming more visible in form of weakness in Bitshares prices.

IF, I quickly draw your attention on chart below or above, I want you to take note of 10 Day EMA(Red Wavy Line) that how it has been held as support up til but today not only this script is trading below that but also kind of sustaining there. The level 11k Satoshi on which this script  trading is important too as there is horizontal support line marked as Support 1 lays; if today it closed below this support then this will result in more sharper correction and next support after this a violet color trendline which lays at around 6k satoshi. So, today close is kind of important one to watch.

On the other hand if this support (Support 1) held which is also quite possible as this weakness in prices are not supported by volumes. Any movement be it up or down need good volumes as fuel to sustain, but If one notice volumes are very thin today and I have marked this in Yellow highlighted circle in bottom of chart. It is encourage sign for bulls as trend may change but concerning sign for bears as they can loose their profits easily if this script turn around.

In conclusion, I again repeat close of today is important, as higher volumes tomorrow can result this script to go higher as well lower and closing point today can give some sense of coming movement.

(Chart is same as above)
![](https://steemitimages.com/DQmS1eA6JFCAeWPvySTJLLBtrRtSGtAoq7gRM7U2bhjab84/image.png)


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