Bit Torrent Price Prediction Today: Daily (BTT) Value Forecast – June 6

BitTorrents-New-Product-to-Enable-Faster-Downloads-by-using-BTT-Token-under-Development
  • On May 28, the BTT price reached a high of $0.001800 overhead resistance level.
  • From the Fibonacci tool, the crypto’s price has broken the 0.236 and 0.382 Fib. retracement levels which are the continuation zone for the trend. The coin price has entered the downtrend zones of 0.50 and 0.618 Fib. retracement levels.

BTT/USD Medium-term Trend: Ranging

  • Resistance Levels: $0.001400, $0.001600 $0.001800
  • Support levels: $0.001000, $0.00080000, $0.0006000

Yesterday, June 5, the price of BTT was in a bearish trend. On May 28, the BTT price reached a high of $0.001800 overhead resistance level. On May 29, the bulls were resisted and the BTT market was on a downward correction to the support of the 12-day EMA . The bulls recovered and made an upward move and reached a high of $0.001650.

On June 2, the bulls were resisted again; the coin resumed another downward correction which is yet to be concluded. The bears have broken below the EMAs. Nevertheless, if the price is below the EMAs, there is a likelihood of its continuous fall.

From the Fibonacci tool, the crypto’s price has broken the 0.236 and 0.382 Fib. retracement levels which are continuation zones for the trend. The coin price has entered the downtrend zones of 0.50 and 0.618 Fib. retracement level.

In other words, the current trend has been reversed. The BTT market is likely to reach the low at $0.001000 price level. Meanwhile, the price of BTT is in the oversold region of the daily stochastic but below the 40% range. This indicates that price is in the bearish momentum and a sell signal.

BTT/USD Short-term Trend: Bearish

On the 1-hour chart, the BTT price was in a bearish trend. The 12-day EMA and the 26-day EMA are sloping southward. The crypto’s price is falling and at the same time testing the 12-day EMA to break above the EMAs. On June 3, the bulls break above the EMAs but the price could not be sustained above the EMAs.

The bears took control to sink the cryptocurrency. Meanwhile, the price of BTT is in the oversold region of the daily stochastic but above the 20% range. This indicates that price is in the bullish momentum and a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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Author: Azeez M

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