We will see a new BTT breakout very soon from this triangle. We must trace wave E (around 0.0007976) before the breakout. Don’t forget we are in the first phase of the breakout from the long Ziz Zag Eliott Wave Wave C. Next target will top around 0.0009516. Breakout from the Zig Zag should bring us mid term around 0.0015556.
Disclaimer: The content...
As you can see on both the 2 hour and the 4 we have an ichimoku cloud break as well as a TK Cross when using the Ichimoku System on both the Candle and Henkin Ashi Charting techniques. We also have a Bullish confirmation when looking at the MACD and the RSI and ADX Indicators.. So I would definitely say we are Bullish and stay that way for a little while now!
I shared a quick analysis of the BTTBTC pair, BitTorrent vs Bitcoin, mentioning that it is about to move and the criterion that needs to be met for this to happen.
When looking at the BTTUSDT chart, BitTorrent is already moving on this pair.
Hit LIKE if you want to now, and let's get started with this analysis:
We have a shy increase in volume but still...
Hello traders and Happy Sunday!
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...
I don't know why a top author is saying "BTT is going to moon", "BTT 200% increase" Really? BTT is going up, that is certain but not until we see a change in volume. Here on this chart we can see next to no volume compared to it's early bullrun. If we see a 200% increase, well then it will happen only if we see a huge interest showing in volume....
BitTorrent got off to an explosive start on Binance.
The wave up had a very well defined Fib Series (blue).
The 9.618 is a very common end to explosive waves.
The first retrace (A) followed the same Fib perfectly.
But the bounce (B) was not so locked into blue Fib.
Last leg (C) might be developing a new Fib (red).
Thus I have plotted some of the confluence...
BTTUSD still hold 61% fibo a long trade is possible here stop loss is often at 67% (7000) fibonacci.
Can give good R:R, target can reach 8500-9900 and even more.
But, be careful... with stop loss better to wait 15min even 1h candle close for confirmation to avoid wick.