Hi friends, hope you are well and welcome to the new update on BitTorrent ( BTT ) token.
Big channel:
On weekly time frame, after getting rejected by the resistance of a down channel now the priceline of Bittorrent is moving in a strong support zone. This support zone starts from $0.00295 to $0.002470. There is also the resistance of EMA 21 below the resistance of this channel. The priceline is also forming a double bottom at this support.
Ichimoku cloud:
On a daily time frame, since Sep 2021 the priceline of BTT is moving under the resistance of Ichimoku bearish cloud. There is also resistance of 100 SMA (yellow line) at the resistance of this cloud. If BTT breaks out this resistance of cloud and SMA 100 then there will be a high probability that BTT may break out the resistance of the channel on the weekly time frame chart as well
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Big channel:
On weekly time frame, after getting rejected by the resistance of a down channel now the priceline of Bittorrent is moving in a strong support zone. This support zone starts from $0.00295 to $0.002470. There is also the resistance of EMA 21 below the resistance of this channel. The priceline is also forming a double bottom at this support.
Ichimoku cloud:
On a daily time frame, since Sep 2021 the priceline of BTT is moving under the resistance of Ichimoku bearish cloud. There is also resistance of 100 SMA (yellow line) at the resistance of this cloud. If BTT breaks out this resistance of cloud and SMA 100 then there will be a high probability that BTT may break out the resistance of the channel on the weekly time frame chart as well
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade