BTT is in a potential harmonic reversal zone with RSI confirmation, accompanied by the time target for the end of wave-c, as well as several momentum and acceleration divergences, and bullish divergent bars. Along with the technical indicators and wave analysis, there is also the Warren Buffett marketing lunch date to be announced very soon, in which BTT will likely be a central focus (as it was paid for by the BitTorrent Foundation).
Fundamentally, BTT will completely change the way the internet works. Now that BTT has enabled monetary incentives for P2P file sharing, we will eventually move away from centralized HTTPS and replace it with the decentralized P2P BitTorrent network. This will allow for truly decentralized websites, where the frontend is run off of BitTorrent and the backend is run off of a smart contract on the Tron network. BitTorrent File System (BTFS) will allow users to upload data to the BitTorrent network, like cloud storage, by using BTT to pay for storing and retrieving it. So now not only will P2P be used for sharing files that are in high demand, it can be used for sharing and storing all types of files, even private ones.
With the FED and most central banks quickly easing monetary policy to support their weakening economies, we will likely see many cryptos start to take off as a hedge against inflation.
Based on all these factors, I suspect that in the long-term we will see BTT reaching prices that are several times higher than the ATH price is now.
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Failure for there to be a strong bullish reaction here is making this seem like we will head towards the lower harmonic reversal zone over the next couple months, could see a strong reversal then.
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As forecasted, BTT moved down to the lower harmonic support. Now it seems like we've gotten a decent bullish reaction and if we continue to follow through with this bounce we may have finally found the bottom.