The BTT price prediction indicates that the bulls could face struggles this week if the price action picture on the daily chart is anything to go by.
Following a period where the BTT price sold off heavily, additional headwinds to recovery have emerged as some projects linked to the network are said to be under investigation for activity that may have led to copyright infringement. These allegations come on the back of a recent arrest of an individual who was alleged to have sold access to remote content sharing servers known as seedboxes.
The BTT share price is now trading 0.13% higher on the back of low trading volumes.
Following the completion of the double top pattern at the 0.003041 support, the price has traded in a range. The modest price increase in the last three sessions comes off the floor but lacks momentum. A breakdown of the base of the rectangle pattern allows for a price dip towards 0.002601 initially. 0.001969 (double troughs of 21 June/21 July) only becomes available if the bulls fail to defend 0.002601.
On the other hand, bullish BTT price predictions only take hold if the price breaks above 0.003396 and 0.003537. A break of the latter and the channel’s trendline targets 0.003819 and the range’s ceiling at 0.004159. 0.004410 and 0.004563 are the barriers that need to give way for the price to ascend towards the previous double top of 14 August/6 September.
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This post was last modified on %s = human-readable time difference 15:22