BitTorrent(BTT/BTC)-Binance Analysis and Setup
1.BiTorrent(BTT/BTC)-Binance
BitTorrent (BTT) came into existence in cryptocurrecny world on Binance’s launchpad with positive support from the community and is backed by TRON community as well
BitTorrent Price for today is $0.0009521(BTT/USDT), with a total circulating supply of $990,000,000,000 and a market capitalization of $3,630,797.
Lets look at the latest 4-Hourly chart of BTT/BTC(Binance) pair:
Since its inception(31st January'2019) on the Binance exchange, the pair saw 500+% surge in satoshi within a week.It then saw a healthy pullback to 0.618 Fibonnaci Levels on 10th February'2019.
As one can observe in the chart that the pair has been moving in a Triangle Pattern since 2 weeks and will soon make a descisive move in the comnig days.
Bullish Case:
24 Satoshi level has been providing a preliminary support which is also the base of the triangle chart pattern.
There is a likelihood of triangle breakout in upward direction since there is lot of hype for the project recently.Hence the sentiments are bullish.If it breaks the triangle upside then Two key level of Resistance(red bars) will be tested around 31 and 36 satoshis.
Stoch-RSI indicator is testing a resistance line and MAC-D is curving up in bullish zone.
Simply put, if someone's needs to buy this asset then 23 and 24 satoshi are levels to watch for 40+%, with tight stop-loss around 17 satoshi.
Bearish Case:
Breaking the base of the triangle around 23 satoshi with strong sell volume is early signs of the bears and breaking the last line of defence around 18 satoshi would be strongly bearish for the asset.
BitTorrent (BTT) came into existence in cryptocurrecny world on Binance’s launchpad with positive support from the community and is backed by TRON community as well
BitTorrent Price for today is $0.0009521(BTT/USDT), with a total circulating supply of $990,000,000,000 and a market capitalization of $3,630,797.
Lets look at the latest 4-Hourly chart of BTT/BTC(Binance) pair:
Since its inception(31st January'2019) on the Binance exchange, the pair saw 500+% surge in satoshi within a week.It then saw a healthy pullback to 0.618 Fibonnaci Levels on 10th February'2019.
As one can observe in the chart that the pair has been moving in a Triangle Pattern since 2 weeks and will soon make a descisive move in the comnig days.
Bullish Case:
24 Satoshi level has been providing a preliminary support which is also the base of the triangle chart pattern.
There is a likelihood of triangle breakout in upward direction since there is lot of hype for the project recently.Hence the sentiments are bullish.If it breaks the triangle upside then Two key level of Resistance(red bars) will be tested around 31 and 36 satoshis.
Stoch-RSI indicator is testing a resistance line and MAC-D is curving up in bullish zone.
Simply put, if someone's needs to buy this asset then 23 and 24 satoshi are levels to watch for 40+%, with tight stop-loss around 17 satoshi.
Bearish Case:
Breaking the base of the triangle around 23 satoshi with strong sell volume is early signs of the bears and breaking the last line of defence around 18 satoshi would be strongly bearish for the asset.
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