BTT- Trend-Following Setup!Hello everyone, if you like the idea, do not forget to support with a like and follow.
BTT is overall bullish and now retesting our green support so we will be looking for buy setups.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
on H4: BTT is forming a channel in red but our upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, BTT would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
BTTPERP trade ideas
BTT Pennant On the 4hr chart we've created a nice Bullish Pennant, but we need confirmation before setting a trade up. As we enter Wednesday morning we will begin to get an idea of the path we will be heading into the week.
If we are able to break above the Pennant pattern we may head towards .005 nearing Thursday afternoon, with that being said now would be a solid Buying Opportunity if you're looking for a Day/Swing Trade.
On the flip side, we could fall below this Pennant & head down to the .0036 resistance which would be followed by a Consolidation phase heading into Thursday.
BTT ready to test .0051+ on Tuesday?Here we see that we've been in a slight wedge pattern running along this resistance, if you also take a look at the RSI we've been in a slight sell-off which is actually a strong Bullish indicator.
We've been in a sell-off but have stayed fairly steady along this resistance, once we get the Volume back up we will be in a nice Uptrend. If we do get a pullback we may slide too .0040 & may consolidate through Tuesday.
BTT ready for another PumpIf you take a look at the RSI we were actually being oversold as we rode along this resistance which is a Very Bullish indicator. To go along with that we broke above the downward trending line which also indicates we may see another push too .0054+ moving into mid Monday.
If we do break below this resistance we could fall too .0043 or down too .0041, this would be a great buying opportunity.
BTT to .0054+ before Monbday?The RSI Indicating a Uptrend may happen through the weekend. We see a Triple Bottom has been created as we are approaching the end of this wedge pattern.
Also we are riding above this resistance & may see a slight pullback before sending us upwards of .0054 as we get closer to Monday.
If we do fall below this resistance .0041 may be our next price target to enter, I would predict a consolidation as we move through the weekend if we do break below the resistance.
BTT to .oo8 first week of September?Here is the Daily chart, if you take a look at the RSI it shows a large Cup patter. Which you see I have drawn out here, I do believe we will continue on this Uptrend moving towards the beginning of September.
I do believe well have 2 or 3 more green days before we see some type of bull back to cool off for a nice entry point.
It's a matter of time before we reach that .008 price target, but the ultimate question should be is when?
BTT coming off a nice Double BottomAs we test a critical resistance, what may unfold next is a Pullback towards the previous resistance. From there we will either do a Touch & Go (creating a Higher Low) to try & get on a Bullish Run
We may fall below this resistance testing the previous Demand Zone & consolidate as we move through this week into the weekend.
BTT on its way too .0035+As you see here we're riding a nice Uptrend which were currently in the middle op reaching the top trending line which is a great spot to Buy in the Sell at the top for a Swing Trade, before it pulls back to the lower resistance.
Overall, we are Bullish here moving through the week, if we catch momentum we could have a shot at breaking through the op resistance & creating a whole new trend.
*Not Financial Advice
#BTT to .00310 before we see a bull runAs you see we've broken the previous resistance on our way too .00310 where we should see slight consolidation which is going to be a very vital point for the week ahead.
If we end up breaking that resistance we may fall too .00272 which will be our bottom resistance. Pay close attention to what happens to the price as we move through the weekend.
*Not Financial Advice
LONG BTTas with the majority of crypto right now everything has taken a huge drop and BTT is no different. With that being said I like the position that BTT is currently in relative to the current market. BTC has seemingly stabilized a bit around the 40k mark so we should see the alt coins start to run again. I'm looking for BTT to go a run with the market in the near future. However if BTT goes under the blue the I would be getting rid of it. It's currently at it's first major support resistance it is a very strong one so i do expect it to bounce back up unless we see a total market meltdown.