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BitTorrent Technical Analysis: Social Sentiments on a Rise, Will it Impact BTTC Price?

Key Takeaways:

Current Price $0.0000008947
Market Cap $838,752,021
Circulating Supply 937,418.50 billion BTTC
Total Supply 990 billion
Vol (24H) $29,269,566
Change (7D) -1.13%

Additional Read: Top Cryptos this Week

Technical Analysis for September 2022

The BTTC price after the trend reversal is trading within a rising parallel channel, woefully reached the lower support. After being pretty consolidated for a couple of months, the price displays a huge spike in the bearish dominance. Therefore, during H1 of September, the price may accumulate along the lower support and drop below in case of extreme bearish action. 

Further, on reaching the last point of defense, the BTTC price is expected to rebound firmly and reach levels beyond $0.000001 at the earliest. By the end of the monthly trade, the asset is expected to maintain a notable upswing aiming to secure levels close to $0.0000011.

Technical Analysis at a Glance

Ever since BitTorrent was rebranded, the price maintained its swing within a huge falling wedge. However, the BTTC crypto asset somehow managed to break above the wedge and recorded a decent upswing. Further, fell into a consolidated range below $0.000001 for more than 2 months and instead of pulling a notable leg up, dropped hard towards the lower support. 

In the coming days, the BTTC price is expected to display some bullish momentum that may uplift the price above the desired targets. 

Short-Term The BTTC bulls appear to get exhausted in a short while from now and hence the price may also experience an inverse action soon
Mid-Term The asset has been trading along the lower support for nearly a week and seems to be prepared for an upswing shortly
Long-Term The price has been consolidating along the lower support from a long time and may be primed for a notable upswing soon

Technical Indicators & Pivot Levels

Indicator Value (STF/HTF) Action (STF/HTF)
Relative Strength Index(RSI) 54.97 / 34.21 Neutral / Sell
MACD 0.00 / 0.00 Neutral / Neutral
Average Directional Index(ADX) 48.23 / 38.54 Buy / Sell
Ultimate Oscillator 49.10 / 41.00 Neutral / Sell
Bull-Bear Power 0.00 / 0.00 Neural / Neutral

Pivot Levels

Moving Average Short Term Long Term
MA 5 $0.00000089 $0.00000093
MA 10 $0.00000089 $0.00000091
MA 20 $0.00000087 $0.00000106
MA 50 $0.00000089 $0.00000091
MA 100 $0.00000093 $0.00000045
MA 200 $0.00000094 $0.00000023

The technical formations for the BitTorrent crypto price is all the time frames point out towards a notable accumulation of a bearish pressure. The indicators are extremely bearish without flashing any bullish signals. However, the RSI is neutral in the short time frame but bearish in the higher time frame which suggests the price to drop hard later.

While the strength of the rally is somewhat bullish in the short time, it is extremely bearish in the higher time frame. The bulls and the bears maintain an equal dominance in all the time frames and hence the price could remind highly consolidated ahead.

Additional Read: BTTC Price Prediction

BTTC Crypto On Chain Metric Analysis

Source: Tradingview

Source: Santiment

Source: Santiment

BitTorrent (BTTC) Technical Analysis for Short Term

Source: Tradingview

BitTorrent (BTTC) Technical Analysis for Long-Term

Source: Tradingview

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FAQs

Is BitTorrent bullish or bearish?

BitTorrent is slightly bullish in the short-term, which may be flipped in the near future. While in the higher time frame, the asset is extremely bearish.

What is the current RSI for BTTC?

The RSI for BTTC in the short-term is 55.97 while in the long-term it is 34.21.

Is it a good time to buy BTTC?

BitTorrent BTTC price may continue consolidating heavily and hence may not undergo a firm upswing ahead. Therefore,it can be considered for a long-term investment.

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