2019-2-12 19:14 |
BTT Daily Chart – Source: Tradingview.com
The second wave of buying has hit the recently listed BitTorrent token (BTT). BTT started trading on Binance on the 31st of January 2019. After the first few days of trading lower, BTT spiked to a high of nearly $0.0013.
Price underwent a sharp reversal from this high but is now experiencing its second wave of buying. A large driver behind this buying is likely to be the airdrop which took place yesterday.
The BitTorrent foundation airdropped a total of 10.89 billion tokens to holders of Tron. Both Tron and BitTorrent are projects headed by Justin Sun who is renowned for his marketing “skills”. The marketing strategies applied by Sun can often result in volatile price movements as is being seen in BTT.
BTT 4-Hour Chart – Source: Tradingview.comBuyer momentum is strong behind the current rise, as indicated by the increases in both the 4-hour RSI and MACD. The key level to monitor is the former high. A break above this may result in a surge for the price, but resistance is likely to come into play as price approaches.
Key Takeaways: Second wave of buying momentum is hitting BTT with the key driver likely to be the airdrop which took place yesterday Buying momentum is strong currently with both the 4-hour RSI and MACD increasing The key level to monitor is the point of the former high around $0.0013 Latest BitTorrent News:BitTorrent Token [BTT] Price Action – Analysts Divided as BTT Reaches 10x ICO Price
Market Cap Rankings, BTT Token Launch, DApps, and More Discussed in TRON’s Weekly Report
DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.BitTorrent [BTT] Price Action – BTT Airdrops for Tron Holders Drives Price Surge was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.
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