Price Analysis

BitTorrent Turns Bearish; Nosedives Below $0.00035

Finmax

BitTorrent drew an extended uptrend against the US Dollar after the major market crash in March when the token marked the lowest at $0.000149, while currently trades at $0.000325.

However, the extended uptrend took the price of BTT/USD to a high of $0.00055. With a total bearish crossover at the onset of the ongoing month, BitTorrent has lost the major supports levels after dropping below $0.00045 but is testing MA200 support around the current price area.

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BTT/USD Chart By TradingView

BTT token draws a negative bias in the crypto market after the loss of traction at the onset of the current trading month. While the token reclaimed the lost momentum, it failed to revive the lost height, which the token had otherwise marked in the first half of the year. Having lost the daily support, BTT/USD has breached the lower 20-day Bollinger Band too due to daily bearish divergence.

It was at the onset of the year when the price of BitTorrent rose as high as $0.00063 while failed to restore trading above $0.00055. The MACD of the token draws a negative crossover. The RSI of BTT has also slid towards the lower support due to loss of demand and is currently lying at 35.72.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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