Today we take a look at BTT / USDT - Also known as BitTorrent token.
Price recently has had a HTF close above our recent Supply area now flipped into Demand (Blue)
I am looking for a continuation in price overall within the short term for BTT/USDT. A re-test of our EQ level followed by a strong bounce would signal good buy strength within this pair. First area of trouble in which we will run into will be our HTF Supply Block @ 9500-9700
If price is able to successfully close and break this grey area we will likely head to new highs via a 1:1 extension for future targets. Expectation // @ 15000 USDT price. Bias flipped upon price trading below Blue which will flip this once again into Supply.
Cheers and have a great trading week!
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Price has failed to sustain our Upper Supply Area. Looking for a rejection here @ our 0.5 of this pivot. A close above our midpoint on LTFs would shift our bias to the upside once again.
Expecting BTT to target our HTf demand areas.
Chart via Twitter