BitTorrent Goes Sideways + Quick Update: Bullish After The Drop

BitTorrent (BTTBTC) continues consolidating with pure sideways action.

When BitTorrent broke the 20 satoshis resistance that was sitting at EMA10 on the 17th March, it didn't gain enough momentum to remain above 22 satoshis. It did hit 23 satoshis but it failed to remain above this level. BTTBTC needed a close above 22 satoshis in order to be able to continue its climb up.

Now it is sitting in an accumulation phase before the next move... A drop can happen... Feel free to hit like now, if you want to, and let's continue with the charts and signals:

• Now trading below EMA10, bearish potential dominates.
  
• The MACD is trending up.
  
• RSI is creating higher lows.
  
• BTTBTC can have a small drop to 17-18 satoshis just to bounce and continue with its sideways consolidation.
  
• This is just a friendly warning.
  

If you are trading BitTorrent long term, you can use this opportunity to rebuy and reload for future gains.

I've drawn multiple scenarios on the chart with a purple, green, and red arrows... As you can see, ultimately BTTBTC remains bullish long term.

Where you think BitTorrent is headed next?

Please share your thoughts in the comments section below.

Remember to hit like.

Namaste.

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Analysis:

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This BTTBTC update is still valid. Rebuy and reload on support.

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I will look at the charts and post a new update.