Crypto Technical Analysis

BitTorrent Technical Analysis: BTTC Price Swinging Within Crucial Levels, What’s Next?

Bittorrent

Key Takeaways

  • BTTC price closed the previous day’s trade at $0.00000186 with a market capitalization of $1.72 billion and a circulating supply of 923,767.70 billion BTT
  • BTTC price kick-off the weekly trade on a bullish note but failed to maintain as the asset appears primed to undergo a notable plunge during the mid-week
  • The price is required to range high a minimum of 10% to secure its position above the danger zone, else the lower support may be imminent as both are equidistant

BitTorrent (BTTC) Technical-Analysis for Today: 23 March 2022

BitTorrent BTTC price after a quick bounce a couple of days before is attempting to mirror the same trend yet again. The selling volume has accelerated to a large extent and hence the bears are expected to hold full control until the day’s end. In such a case, the possibility of the asset hitting the lower support close to $0.00000179 surface. 

However, a strong flip may also be ignited that could uplift the price above the pivotal levels around $0.00000190. A bullish close for the day may ignite a notable uptrend that could coil up the price towards $0.00000200 in the upcoming days. 

BitTorrent (BTTC) Technical Analysis at a Glance

Despite having a spectacular start of the month, the BTTC price fell deep down the cliff to hit the lower support close to $0.00000170. However, the asset managed to rebound fairly and maintain a sensible uptrend further which has been tested currently. They tested the trend line each time and flipped but also failed to maintain a strong uptrend. As the price was restricted below the upper resistance. Therefore, a consolidated trend may continue until a significant change in trend is witnessed. 

Short-Term The price is maintaining a descending trend for the past couple of days and hence may continue for another couple of hours before igniting a notable rebound
Mid-Term BTTC price showcases huge chances of plunging hard slicing through the trend line
Long-Term A significant buying volume has accumulated but still, the price appears to be uncertain of the upcoming price movement and hence consolidates along with the average levels

Additional Read: BitTorrent Deep Dive

Technical Indicators & Pivot Levels

Technical Indicators

Technical Indicators Value(1Hr / 1D) Action (1Hr / 1D)
Relative Strength Index(RSI) 40.9 / 47.9 Sell / Neutral
MACD(12,26) 0.0 / 0.0 Neutral / Neutral
Average Directional Index(ADX) 48.5 / 18.98 Sell / Neutral
Bull-Bear Power 0.0 / 0.0 Neutral / Neutral

Pivot Levels

Pivot Levels Short-Term Long-term
Moving Average(MA)-50 $0.00000184 /  $0.00000197
Moving Average(MA)-200 $0.00000182 /  $0.00000058
Resistance $0.00000189 $0.00000206
Support $0.00000179 $0.00000171

Oscillators

Oscillators Short-Term Long-Term
Stochastic Oscillator 29.16 74.72
Ultimate Oscillator 47.17 54.60
Average True Range(ATR) 0.0 0.00
CCI -174.56 76.1

The BitTorrent price is extremely bearish in the short term as no indicators are bullish. The RSI is plunging, selling volume has accelerated and the rally has lost its strength. But the volatility is extremely high which may make the asset very risky at the moment. However, the current levels are pretty close to the pivotal resistance and hence a breach through these levels may validate a decent uptrend.

On the other hand, the asset showcases a minor possibility of undergoing a notable uptrend in the higher time frame. Some of the indicators like Stochastic Oscillator, CCI, Ultimate Oscillator, etc are pretty bullish. However, in RSI, MACD and ADX, the strength of the rally is neutral and moves along with the direction of the volume. Also, the asset is extremely volatile therefore, the investors need to be extra cautious. 

BTTC/USDT Technical-Analysis for Short-Term

Source: Tradingview

  • The BTTC price in the STF showcases a possibility of breaking out from the consolidation but after a couple of days
  • The asset is swinging within a symmetrical triangle after it faced rejection at $0.00000200 during the first few days of the month
  • However, the asset is believed to continue accumulating gains for another couple of days ahead and eventually attempt for a strong breakout above the pivotal zones around $0.00000197
  • The possibility of a drain is slightly less but cannot be eliminated, and in such a case, the asset may receive a huge boost if held strongly at the lower support around $0.00000170.

BTTC/USDT Technical Analysis for Long-Term

Source: Tradingview

  • The BTTC price in the HTF is swinging within the lower levels after crashing heavily from $0.00000240
  • The price lost the 1 FIB levels and tested the lower FIB levels at 0 slicing through the FIB levels 0.5 and 0.78
  • Currently, the price is swinging within the lower bands of the Fibonacci channels and hence may retest the lower bands at 0 FIB levels if the selling continues
  • Further with a quick rebound, the price may surge towards the 0.5 FIB levels initially and if sustained may test the upper levels

Additional Read: BitTorrent BTTC Price Prediction

Where & How to Buy BitTorrent (BTTC)

Investing in BitTorrent or any other crypto asset is very simple and safe on CoinDCX. Along with a secured environment, we offer multiple benefits like faster order placements, unlimited access to charts with indicators, a wide variety of crypto assets to deal with, etc, all at very affordable rates. 

To register all you need to do is 

  • Download CoinDCX App on your smartphone
  • Enter your personal and bank details 
  • Once verified, just fund your wallet and buy your desired crypto

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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