alanmasters

BitTorrent Goes Sideways + Quick Update: Bullish After The Drop

BINANCE:BTTBTC   None
BitTorrent ( BTTBTC ) continues consolidating with pure sideways action.

When BitTorrent broke the 20 satoshis resistance that was sitting at EMA10 on the 17th March, it didn't gain enough momentum to remain above 22 satoshis. It did hit 23 satoshis but it failed to remain above this level. BTTBTC needed a close above 22 satoshis in order to be able to continue its climb up.

Now it is sitting in an accumulation phase before the next move... A drop can happen... Feel free to hit like now, if you want to, and let's continue with the charts and signals:

  • Now trading below EMA10, bearish potential dominates.
  • The MACD is trending up.
  • RSI is creating higher lows.
  • BTTBTC can have a small drop to 17-18 satoshis just to bounce and continue with its sideways consolidation.
  • This is just a friendly warning.

If you are trading BitTorrent long term, you can use this opportunity to rebuy and reload for future gains.

I've drawn multiple scenarios on the chart with a purple, green, and red arrows... As you can see, ultimately BTTBTC remains bullish long term.

Where you think BitTorrent is headed next?

Please share your thoughts in the comments section below.

Remember to hit like.

Namaste.
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Analysis:
Comment: This BTTBTC update is still valid. Rebuy and reload on support.
Comment: I will look at the charts and post a new update.
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Comments

Thanks @alanmasters , 18-19 is a good area to grab more BTT. This is a strong support level.
+3 Reply
saadi_75 rkothwala
@rkothwala, it reached 14 sat man.
Reply
rkothwala saadi_75
@saadi_75, I sold it @21. Will rebuy once BTC is stable.
Reply
CryptoEngineering CryptoEngineering
Reply
Patience.... :)

I really enjoy your posts. Thank you so much for sharing your understanding.
I really love TA, and how it All is connected..... Waves within waves, life within life
Reply
@alanmasters What's the next support level to enter again? 12 sats??
Reply
alanmasters rkothwala
@rkothwala, I will be giving it a closer look later on... But I am saving my energy now for private website/platforms.
Reply
How are we looking on this coin? Still accumulation zone, or possibility of dropping further? Thanks!
Reply
Nice analysis like always, thanks Alan!
Could you maybe also take a look at TRX short- to midterm?
Reply
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