BitTorrent Price Analysis: BTT looks positive for near future?


  • First support level for BitTorrent is at $0.002.
  • BitTorrent(BTT) records upswings today.
  • BTT has its next resistance at $0.002.
  • The EMA(50) is currently at $0.002.

07 December 2022 : In this article we will walk you through BitTorrent price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for BitTorrent, Is BTT a good investment? BitTorrent support & resistance levels etc. But before diving deep into the BTT technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $840,321,075,815. The total trading volume stands at $38,522,880,633. Bitcoin shares 38.54 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $16,844.43 level after a decline of -0.88%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -1.95 percent reaching to $1,230.44 during the previous 24 hours.
While publishing this blog, BNB traded at $283.83, following a price change of -1.78%within the same time frame. XRP the native coin of XRP is down by -1.88 and currently trading at $0.38. Additionally, Dogecoin reached $0.096 after seeing a decline of -3.98% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

BitTorrent Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of BitTorrent (BTT)

BTT Resistance Levels BTT Support Levels
Resistance Level 1 $0.002 Support Level 1 $0.002
Resistance Level 2 $0.002 Support Level 2 $0.002
Resistance Level 3 $0.002 Support Level 3 $0.002

BitTorrent Performance

The daily chart of BitTorrent shows that the BTT price has surged up with a 1.07% increase in past 24 hours. The price value of the BitTorrent (BTT) coin is standing at $0.00000185 with market capitalization $1,704,525,901.00 USD. BTT price changes 3.81% over the week while the trading volume is hovering around $74,045,513.00 USD.

BitTorrent Price Analysis

BTT price analysis for 07 December 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the BitTorrent.

Moving Averages Price Indicator
Simple Moving Average (10) 0.002 Sell
Exponential Moving Average (10) 0.002 Sell
Simple Moving Average (20) 0.002 Sell
Exponential Moving Average (20) 0.002 Sell
Simple Moving Average (50) 0.002 Sell
Exponential Moving Average (50) 0.002 Sell

The BTT/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. While BTT’s Williams %R indicator is at 0 for the 14-day time period indicating a overbought condition and short term trend price correction is possible. The BitTorrent has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take BTT price below the crucial support level of $0.002.

Conclusions

BitTorrent market shows a bullish signs, and bulls can push BTT higher in the coming sessions. BTT has a resistance at $0.002, beyond which the coin would move toward next crucial resistance at $0.002.