BTT Price Prediction: Bulls Struggling for Upside Momentum Despite Slight Recovery

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Written By: Eno Eteng (MSTA)
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    Summary:
  • The BTT price prediction is for the bulls to struggle to defend the current support level at 0.00383441 if buying volumes remain low.

Bullish BTT price predictions following the break of the wedge pattern are still struggling for actualization. So far, bullish momentum has been sparse, preventing the price from attaining the completion point of the measured move.

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BTT Price Prediction

The bulls successfully defended the 0.00383441 support following the 10 October decline. The intraday bounce of the day needs additional momentum before the price action hits 0.00462121. Above this level, the 13 August high at 0.00507422 and the 0.00537351 resistance levels constitute resistance barriers to the north. This move completes the breakout of the falling wedge on the daily chart.

On the other hand, a decline below 0.00383441 could follow a lack of buying momentum. Such a decline also takes out the ascending trendline support, which connects recent daily lows. In this scenario, 0.00297609 becomes the immediate target, followed by 0.00259461 and 0.00192703, respectively.

BTT Price Chart: Daily

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Written By: Eno Eteng (MSTA)

Eno is a certified financial technician and member of the UK Society of Technical Analysts. He loves to trade and write about stocks, Forex, and CFDs. Since 2009, he has consulted several financial companies as a trader and strategy developer. His work can be seen on several forex blogs and trading educational websites.

Published by
Written By: Eno Eteng (MSTA)