BitTorrent (BTTBTC) broke its 'opening' support which was sitting at 9 satoshis to hit 8 satoshis as a new low... But why are we calling this a bullish signal?
Before we get started, feel free to hit like now if you want to show your support... Namaste.
Let's get take a look at the chart:
BTTBTC opened trading at 9 satoshis on the 31st Jan 2019, below you can see the long term chart:
After the first impulse wave that reached an all-time high of 37 satoshis, BTTBTC moved down and found support again at 9 satoshis, its opening price.
On a second smaller wave BTTBTC grew by 144% hitting up to 22 satoshis and moving back down to rest on the same level which is marked with a red line.
Yesterday, BitTorrent broke 9 satoshis for the first time hitting a new low at 8 satoshis but quickly bouncing up. We are now seeing bullish divergence showing up on both the MACD and RSI, which is why this can be considered a bullish signal.
If BTTBTC can break and close above 9 satoshis, which is also marked by EMA10, we have our first strong bullish signal... If the bulls fail to move the price higher, then more retrace and we test the next support.
We have an active trade for BitTorrent which requires no action right now, the most you can do is to be patient, rebuy and reload.
Here is the link... We will share a new trade before this one takes off:
Want more frequent updates?
Hit like/follow/comment to show your support.
Namaste.
Comment
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More consolidation needed... Four days straight closing at the same price. Also a strong support.
Feel free to rebuy and reload as much as you want until this one finally takes off.
Thanks Allan for the update. In my opinion, btt/btc needs more volume. If closes above 10-11 will show strength and attract buyers. The sell wall is as big or bigger than the buy wall. And I heard Justin Sun has 70% of the tokens in his bag that he might be selling at any point in time. In saying that, I have a relatively big bag myself and have been following this trend closely. 8 satoshis was another buying opportunity when I’ve filled another order at 9 satoshis. I unfortunately believe it may take few weeks for the price to reach our targets. Good luck everyone.
AlanSantana
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@olhares1, Agreed. Few more weeks is all that is left.
Hope all is well. I'm convinced this coin is going to melt faces in the future. Do you have any thoughts on it ? Cheers dude