TRX News

BitTorrent Price Analysis BTT / USD: Imminent Collision – Crypto Briefing

  • BitTorrent has a bearish short-term outlook, with the BTT / USD pair continuing to weaken below its 200-period moving average on the four-hour time frame
  • The four-hour time frame shows that the BTT / USD pair is continuing to post bearish lower lows and lower highs
  • The daily time frame shows that the cryptocurrency remains trapped within a descending price channel

BitTorrent / USD Short-term price analysis

BitTorrent has a bearish short-term trading outlook, with the BTT / USD pair continuing to weaken below its 200-period moving average on the four-hour time frame.

The four-hour time frame shows that sellers are in full control of the BTT / USD pair, with price continuing to create bearish lower lows and lower highs.

Technical indicators on four-hour time frame remain bearish and continue to issue sell signals.

BTT H4 Chart July 24 by TradingView
BTT / USD H4 Chart by TradingView

Pattern Watch

Traders should note that a bearish double-top pattern is also in play on the four-hour time frame.

Relative Strength Index

The Relative Strength Index on the four-hour time frame is also bearish and continues to generate a sell signal.

MACD Indicator

The MACD indicator on the four-hour time frame is bearish and continues to generate a sell signal.


BitTorrent / USD Medium-term price analysis

BitTorrent has a bearish medium-term trading bias, with the BTT / USD pair trading back under key technical support on the daily time frame.

The daily time frame is showing that the BTT / USD pair remains trapped within a descending price channel, with the cryptocurrency approaching make or break support.

Technical
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