BitTorrent reports gains prior to the launch of its testnet today. The project sees itself as the “first major use case of blockchain by introducing the concept of cryptocurrency to 100 million users.” Although, the project does have a large user base, the success of blockchain integration to its platform is still questionable. Nevertheless,...
RSI has hit the previous support zone of 43.
If BTT increases, it means that the uptrend channel is formed and we can find buying points.
Target level: Top channel of 100% / fibonacci trend channel
***Note: The target score will reach when RSI returns to the old 79-80 level
Been watching BTT/USD since the morning, has confirmed an upside breakout with closes above the wedge on the 4hr. Easy trade setup. May retest ATH (a little below), or shoot through. Either way very little resistance we will have to see how much demand can be hyped up by mr hypeman justin sun.
Bought at 0.00117
TP1 - 0.0014~
TP2 - 0.0017~
We can see it's been trading in this broadening wedge.
IMO, if this doesn't go up soon, it will be rejected from the wedge, and we may see a collapse.
RSI looks oversold - bullish
Volume not that bad - neutral
Approaching bottom of ichimoku cloud - bullish
Overall bullish but may break down if Bitcoin does.