Long - It is still healthy
From 10 April to 21 April, the price is moving between 0.0091 and 0.0076 which are the 38.2% and 50% of fib retrenchment. Due to BTC crushed and the news announced on 22 April, the price drop heavily to 0.0042, but 78.6% of fib retrenchment holds it strongly to the upside. From there the price is moving between 50% (0.0076) and 61.8% (0.0062) of fib retrenchment.
On 6 May, the price finally breaks the trendline with a clear breakout candle. But it is failed to push to the higher level because 38.2% (0.0091) of fib retrenchment is still acting as a strong resistance which caused the price drops for 4 days.
On 10 May, the price finally retested the previous break-of-trendline and hold on to the support structure at 61.8% (0.0062) of fib retrenchment. The support structure can be clearly seen in the 3D timeframe. The daily candle closed and fixed on the Daily EMA 50 and the long wick that hits 0.00576 also touches the Weekly EMA 10 which I expect more upside from this level.
The support trendline is more clear when it is using the H4 timeframe, therefore, I think it can be a strong support trendline to push the price to the upside. It is very obvious the price is moving according to the fib retrenchment. Once the price is taking the fib retrenchment as the staircases to the upside, we can expect the BTT to reach a new ATH.
Don't forget the team is still developing their project which is very potential in the future. Although BTT currently moving with the market condition / BTC, but the important key levels of BTT are still valid.
Please leave your comments and ideas below, I will be grateful :D
On 6 May, the price finally breaks the trendline with a clear breakout candle. But it is failed to push to the higher level because 38.2% (0.0091) of fib retrenchment is still acting as a strong resistance which caused the price drops for 4 days.
On 10 May, the price finally retested the previous break-of-trendline and hold on to the support structure at 61.8% (0.0062) of fib retrenchment. The support structure can be clearly seen in the 3D timeframe. The daily candle closed and fixed on the Daily EMA 50 and the long wick that hits 0.00576 also touches the Weekly EMA 10 which I expect more upside from this level.
The support trendline is more clear when it is using the H4 timeframe, therefore, I think it can be a strong support trendline to push the price to the upside. It is very obvious the price is moving according to the fib retrenchment. Once the price is taking the fib retrenchment as the staircases to the upside, we can expect the BTT to reach a new ATH.
Don't forget the team is still developing their project which is very potential in the future. Although BTT currently moving with the market condition / BTC, but the important key levels of BTT are still valid.
Please leave your comments and ideas below, I will be grateful :D
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