Since we have been asked by many of our followers to give yet another update on BTT here is what the charts are saying.
#BTT_Update
It seems BTT is still in favor of the bulls and didn't confirm a start of downward trend or correction.
Notes
- EMA still below the price which indicates that we are still in an uptrend.
- Trend channel still in progress and didn't confirm that it starts a downward move since we are still in the blue trend channel as shown in the chart.
- MACD still didn't confirm a downward move but might give us a clue in short period of time.
- RSI is actually in an average area and is actually in the bears favor according to its direction.
Possible scenario's for now are we might see a correction between the level of 14 sats and 15 sats or we might see another leg up on a reversal move. To confirm we still need some time and see what the indicators will give as though.
#BTT_Update
It seems BTT is still in favor of the bulls and didn't confirm a start of downward trend or correction.
Notes
- EMA still below the price which indicates that we are still in an uptrend.
- Trend channel still in progress and didn't confirm that it starts a downward move since we are still in the blue trend channel as shown in the chart.
- MACD still didn't confirm a downward move but might give us a clue in short period of time.
- RSI is actually in an average area and is actually in the bears favor according to its direction.
Possible scenario's for now are we might see a correction between the level of 14 sats and 15 sats or we might see another leg up on a reversal move. To confirm we still need some time and see what the indicators will give as though.
Related Ideas
#BTT_Update
cryptotalk_et
about BTTBTC
Sure BTT is one of the undermined or else abandoned crypto assets at current situation. It showed it can give a good profits in the future recenetly and surely the team doesn't simply kept sitting. They must be doing a lot of jobs to make it better since it do really have the opportunity to become one of the most highly effective use cases of the crypto world. We have updated BTT's move yesterday and we have said that we need further confirmations for predicting a good outcome of the coin both for the short term. We will try to see our predictions on it for the short term on this update.
Volume : Volume is looking flowing out from BTT and the hype it gets last week is drained out for now. And we need some enormous amount of cash to get in to this trade to see a good moving momentem.
RSI : RSI is on an oversold area comparing it to last month's move and is further showing a bearish trend coming up.
MACD : MACD also on favor of the Bears for now showing a downward move and need to reverse to get BTT back up from its sleeping momentum at the time of this post.
Other Indications And Forecasting Tools
EMA is going above the price currently and need to slow down to see BTT going upwards again.
Double Top Pattern : Even though it is very difficult to decide the double top pattern in most cases since we have to see whether the nearest support is broken when the candle closes or not. By this we can't be sure about this for now since we didn't still closed the daily time frame but it seems it is developing the a double top bearish pattern.
Trend Line : The created support line starting from May 14's reflex point is also breaking out by the trend and big cautions needed.
Conclusion
It seems we are in a bearish trend development for now and we need to be cautious on our trades. If the Double Top Pattern is going to be confirmed by closing below 16 sats it surely will see some downward move for now for a correction. By this if we recommend you use a strict stop loss managing system for the trade and wait till the above mentioned confirmation points are fulfilled.
We willl give more updates when trend is confirmed on the close.
Don't forget to drop a like if you agree or to give your comments if you don't agree with this idea.
With Regards.
Team TWA.