BitTorrent(BTT) falling wedge breakout, target 20% to 44% up
Updated
BINANCE:BTTBTC
BITTREX:BTTBTC
BINANCE:BTTUSDT
One of the most talked about altcoins in recent weeks is BTT, a project already consolidated in the world market that arrived with strength in the crypto market seeking the decentralization of the torrent platform.
With a very significant increase since the ICO (1000% in ATH), it has made many investors remember the golden weeks of the crypto market, comparing the move to movements that occurred in December 2017 in several altcoins.
Well, let's get down to business:
Graphically the BTT had a practically vertical upward move and then started a correction coming from 37sat some days ago to 20sat in the last 24h forming a falling wedge that was broken few hours ago, a drop in the volume indicated the selling force finishing and at that moment we can perceive the volume returning to increase in the breaking of the figure.
MACD, besides being on the positive side above zero, we can see the formation of an Inverse H&S which is a very strong pattern that confirms my expectation of uptrend in the next few hours/days.
RSI is also showing that the buying power is dominant now, crossing above 50 and holding steady above that on the 1H chart.
The price has already surpassed the MA20 and MA50 and currently they are serving perfectly as a dynamic support, both are pointed up and also demonstrate the possible beginning of a short-term bullish trend.
BITTREX:BTTBTC
BINANCE:BTTUSDT
One of the most talked about altcoins in recent weeks is BTT, a project already consolidated in the world market that arrived with strength in the crypto market seeking the decentralization of the torrent platform.
With a very significant increase since the ICO (1000% in ATH), it has made many investors remember the golden weeks of the crypto market, comparing the move to movements that occurred in December 2017 in several altcoins.
Well, let's get down to business:
Graphically the BTT had a practically vertical upward move and then started a correction coming from 37sat some days ago to 20sat in the last 24h forming a falling wedge that was broken few hours ago, a drop in the volume indicated the selling force finishing and at that moment we can perceive the volume returning to increase in the breaking of the figure.
MACD, besides being on the positive side above zero, we can see the formation of an Inverse H&S which is a very strong pattern that confirms my expectation of uptrend in the next few hours/days.
RSI is also showing that the buying power is dominant now, crossing above 50 and holding steady above that on the 1H chart.
The price has already surpassed the MA20 and MA50 and currently they are serving perfectly as a dynamic support, both are pointed up and also demonstrate the possible beginning of a short-term bullish trend.
Trade active
#BTT (Binance & Bittrex)Buy-Long at: 25sat
Target: 30sat (+20%) and 36sat (+44%)
SL: 21sat (-16%)
Note
BTT stayed the last hours between 22 and 25 satoshi, getting very close to my stop-loss, but fortunately everything remains within the expected. I expected BTT to move up with a little more speed, but I continue to project that upward movement in the coming days even with the price sideways walking in the last 24 hours.Trade active
BTT reaches 1st target, 1/2 sold with 20% gain.Im moving the stop-loss to 25sat on the remain 1/2.
Trade active
Next target is at 36sat, giving 44% profit.Note
BitTorrent (BTT) has been listed on Huobi Global.Deposits are open.
Trading starts on February 13, 09:00 UTC.
Details: bit.ly/2I7JhtP
Trade active
BTT made a retracement after reaching our first target and now seems to be taking strength for a new leg up.Trade closed manually
Note
50% sold with 20% gain and 50% sold on breakeven.
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