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BitTorrent Price Analysis: BTT Token Attempts A Fresh Rally After Bouncing From The $0.002 Mark

  • BTT token shows a steady up move after taking support from the $0.02 level, slowly closing it towards its first resistance
  • The BTT/BTC pair was trading at 0.000000079 BTC with a gain of 7.36%
  • The current price of the BTT token stands at $1.11, established on the back of a 0.24% decrease in the past 24 hours.
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The BTT token price in the daily time frame has bounced from the $0.002 support level and shows a steady up move as its closes to its first resistance of 0.03$ level (also the 0.786 FIB). This resistance level is the first hurdle BTT token has to face if it wants to continue this rally creating an excellent entry point for investors interested in BTT tokens. 

About the EMA’s, the BTT token is trading below all the critical EMA’s 20, 50,100, and 200, indicating a strong bearish trend formation. As for now, the price is about to reach the 20 EMA, which acts as a strong dynamic resistance for price and forbidding any price attempt to cross it.

The RSI (NEUTRAL) value is at 45, indicating a neutral to slightly bullish sentiment because of the sharp rise in the RSI line after the price took support from the $0.002 mark.

BTT Coin Crypto Chart In The 4hr Time Frame

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BTT token price in the 4hr time frame shows some excellent confluence with the traditional pivot levels. As a result, inventors can use these pivot levels to get more confirmation and an edge in their trading.

The MACD indicator (BULLISH) shows a bullish crossover of the MACD line and signal line and has crossed above the neutral(0.00) zone, indicating a strong bullish signal. The histogram also shows rising green bars confirming the ongoing bullish movement.

Conclusion: From the technical perspective, the price is showing steady up move closing towards the $0.003 resistance level, which will be the first hurdle for BTT token has to face to continue its rally; thus, if the price gives a strong breakout from this resistance level it would trigger a good entry opportunity for BBT traders.

Support– $0.002

Resistance- $0.003