BITTORRENT Price Prediction Today: Daily (BTT) Value Forecast – July 28
- A drawdown in the BTT/USD market’s value has come up with low force day by day since July 21 and until the present.
- Prior to having a good psych of the bulls staging a come-back in this market, $0.001 price territory needs to be breached northward.
BTT/USD Long-term Trend: Bearish
- Distribution territories: $0.0012, $0.0014, $0.0016
- Accumulation territories: $0.0005, $0.0003, $0.0001
There is a slow-moving mode in the price movements of BTT/USD market operations about a week back. The drawdown in the crypto’s value has come up with low force day by day since July 21 and until the present to measure up with a whole bearish candlestick that formerly emerged on July 16. Price has now been trading around the same low point at $0.0008 as once witnessed initially on the day.
The 50-day SMA indicator is away above the 14-day SMA indicator near the immediate distribution territory of the market. The smaller SMA is over the current market trading point more pointing towards the south than any other direction to indicate the downward pressure is still on-going in the market. The Stochastic Oscillators have dipped into the oversold zone. And, they still point slightly point to the south within it.
As at now, the bears may start to consolidate their stance in this crypto-market around the $0.0008 mark while the BTT/USD bulls lack the energy to boost up to a recovery setting arrangement. More importantly, $0.001 price territory needs to be breached northward before starting to have a good psych of the bulls staging a come-back in this market.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.