- The 4hr time frame shows the price in consolidation within a range.
- The BTT/BTC pair was trading at 0.0000000989 BTC with a fall of 0.32%
- The 24 hr trading volume in BTT is $540.26Mn.
In the daily time frame chart, BTT token shows price moving in a range that has the absolute support and resistance as $0.0036 and $0.0044 respectively, both of them have tested twice. Now the price continues to travel within this range.
As per the critical EMA’s, the price is trading below the vital EMA’s 20-50-100, coinciding with the $0.0044 resistance level providing strong resistance. The 200EMA is trading below the price and will act as strong support as the price moves lower. One can say that the price is accumulating within the 100 and 200 EMA.
The RSI is currently at 40, indicating an overall bearish momentum. Investors can also see that even in the last few days, movement in the RSI line is sideways and doesn’t show any signs of reversal.
Symmetrical Triangle In BTT Token Brings Entry Opportunities
In the 4hr time frame chart, BTT is showing a formation of the symmetrical triangle pattern. This structure has a related resistance of $0.0044, as mentioned above for the range of the daily technical chart. This breakout of this level could provide an excellent entry opportunity and might result in the price hitting $0.0051. Also, the trendline displayed in the chart and the 200 EMA will give strong support to the price for any movement on the downside.
The MACD indicator( bearish) currently shows a bearish sentiment as both the signal line and the MACD line are moving below the neutral(0.00) zone. even so, looking at indicators short-range movement from the past few days, the MACD indicates too a sideways trend
Conclusion: As per technical analysis, BTT Token price is currently in a range accumulating for a big breakout soon. Thus, investors should wait calmly for the cost to burst out from this range resistance level of $0.0044, granting them the primary mark of $0.0051.