The retrace stopped at 16 satoshis on the 30 May, which is ~27% below peak price.
If you follow Alan Masters, you know that we rebuy and reload on the retrace 15-35% below the peak price reached. Taking this rule of thumb into consideration, we are looking at the 15-18 satoshis range for support before the next wave. (We are in the support range before the next move... This is where we buy-in, rebuy and reload).
Now, this is for more experienced traders, so if your head is already spinning remember to just buy within the recommended buy-in range, collect profits as we move up and simply wait patiently.
BitTorrent ( BTTBTC ) 16 satoshis support has been holding for multiple days and trading came to a halt. We have strong resistance at 17 satoshis and strong support at 16.
We are expecting a drop to 15 satoshis before BitTorrent moves up but this might not happen. It seems that too many people are waiting for it to go lower to buy, so not many sellers, it might move up from here.
The lack of in the last few days is pointing me in this direction.
When you look at the 4H time frame, there are signals of support holding with the and starting to diverge.
This chart shows the potential scenarios:
So it is easy to rebuy and reload here with the anticipation of the next wave.
We are already in and in great profits... So this is all an extra for us to load up and earn even more.
You can find our full trade for BitTorrent ( BTTBTC ) by clicking on the image below:
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We will visit all possible scenarios as usual and be ready for all of them.