AndreKlynsmith
Long

Bittorent Analysis - BTT|USDT

BINANCE:BTTUSDT   BitTorrent / TetherUS
Bittorrent token showed some signs of life in the last week, thanks to the pause bitcoin made on its way up. BTT managed to shear away from the bottom at 9 sats and almost hit its major resistance at 13 sats . It is still in an intermediate bearish trend until it manages to break the 13 sats resistance.

Breakout level is 13 sats and breakdown level is 9 sats . If it manages to smash the 13 sats resistance, it could go all the way up to Fib50 level at 21 sats .

  BTT has a very strong buy support, according to coinmarketbook. cc . Buy support is measuring sum of buy orders at 10% distance from the highest bid price. This way we can eliminate fake buy walls and whale manipulation and see the real interest of the market in a certain coin. BTT currently has a $4.9m of buy orders measured with this method, which sets BTT buy support/market cap ratio at 3.43%, a wide-market leading value. Bitcoin and Ethereum have a 0.27% and 0.28% ratios, respectively.

Considering that bitcoin is making moves, we are very likely to see a suspense of all altcoins – it is wait and see game right now. BTT got no favors from its leading figure, Justin Sun who keeps rubbing the whole crypto community the wrong way. Markets are widely less reflexive on speculations and unsubstantiated claims which was the biggest propelling force of Sun’s project: TRX and now BTT .

Even though BTT is attractive price-wise, fundamentals are extremely weak and entering into a position with this project would be a very risky move.
stunning accuracy, let's see what happens next. Thanks for the work.
+2 Reply
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