btt clearly broke down then tested the previous support as resistance.
looks very bearish.
only saving grace might be the bullish gartley.
stay safe.
not financial advice.
We can see it's been trading in this broadening wedge.
IMO, if this doesn't go up soon, it will be rejected from the wedge, and we may see a collapse.
RSI looks oversold - bullish
Volume not that bad - neutral
Approaching bottom of ichimoku cloud - bullish
Overall bullish but may break down if Bitcoin does.
Stay Safe
Crypto like BTT is lacking in history so it is hard to build an analysis for.
Reasons for Buying:
There's been recent news, google it.
Cheap coin to invest in.
Scaling with TRON (TRX)
This is more of an investment call for a longer period of time.
Personal Opinion (Not a highly credible Crypto investor)
BitTorrent / USD Short-term price analysis
BitTorrent has a bullish short-term trading outlook, with the BTT / USD pair moving to its all-time high.
The four-hour time frame shows that the recent strong advance in the BTT / USD pair has now invalidated the bearish head and shoulders pattern.
Technical indicators on four-hour time frame remain bullish and...
The price has made a huge bearish move in the last few days. Looking at the last few hours we can see that the bulls are getting exhausted as the bullish movement of the price is not as rapid as it used to be. The RSI is also getting close to being overbought. Those are two indicators that tell us that we can be expecting a rather big bullish move in the future.
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