BitTorrent Consolidation Continues | Breaking Out In 14 Days?

12. Okt. 2019

BitTorrent (BTTBTC) is no different than other major altcoins... If you look at the time it has been consolidating and compare it to other Binance altcoins that are moving strong, the length of consolidation is average.

BTTBTC has been consolidating now for over 60 days, this is true for many of the Binance altcoins we've been trading/reviewing lately.


When will the breakout happen?

Take a look at Siacoin (SCBTC) for example... When the breakout happens, it is going to be strong and it will be hard to see the prices we are seeing now again in the future.

SCBTC:

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As for the BitTorrent chart signals...

• This is a bottomed out altcoin pair with bullish signals building up.
  
• There is strong bullish divergence with the MACD and RSI.
  
• The price action went flat and trading volume is down to zero... A breakout can happen anytime time now, in a matter of weeks.
  

How to tell if and when BTTBTC will move higher?

If you see a strong bullish candle that closes above EMA10/50 (6 satoshis), then you can expect for BTTBTC to climb up high and fast... But a big volume bar is needed for confirmation.

If you see a weak break of EMA10, it might take longer for a strong bullish break.

Binance de-listing the BTTBTC pair is a good thing... They are likely to add it back in the future (just my guess).

Any questions?
Use the comments section below...

Namaste.