CoinsOnFire
Long

Bittorrent with Huge Potential: BTTUSD Bull Case with Targets

BINANCE:BTTUSDT   BitTorrent / TetherUS
BTT was one of the most exciting ICO's of the year, it started with a huge run soon after it went public followed by a 3 months consolidation that ended last months with another amazing rally into new highs... overall it's developing a very promising Bull Pattern.

BTT is still consolidating last month's gains, and we should look to $0.0019 as the main resistance, a breakout of this area on the short term would open the door for another rally with $0.0032 and $0.0047 as the main targets (calculated with Fib projection and range projection, using the semi-log scale and the anatomy of the previous rally).

On the downside, the short term support stands near $0.001088 and mid term support near $0.0009, with BTT trading above these levels the Bull Case remains active.

Strategy:
- For anyone already holding this gem, the long term strategy is simple: Hold and forget it... this will be a multi-billion dollar coin somewhere in the near future... if you want to trade short term, the $0.0019 level will be at least tested and it's possible that it will offer some resistance before a breakout, so it could be a nice short term target to exit those long positions (personally i would not recommend to sell it at any cost... but that's just FOMO).
- New long positions would ideally be positioned somewhere between $0.0009 and $0.0011, thats where the risk/potential ratio gets really optimal, but personally I'm not expecting those levels to be tested ever again after a breakout of $0.0019.
This one will take off in a big way when the new retail wave/horde enters the market. I scaled into a long term position last week.
+1 Reply
@jzpur, agree... and maybe sooner... Cant believe this is still under a Billion $ in cap ;)
Reply
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