BitTorrent (BTT/BTC)

BTTBTC potential Wyckoff model

Will China Catch BitTorrent Fever?

BitTorrent’s Chinese connections make it a must watch market.

With all the new interest coming from Chinese officials about Blockchain technology it would be wise to watch markets that have Chinese connections. They will get the most attention and thus most investment input. BTT should be on that watch list.

The first chart is trying ever so hard to flip into “full bull conditions”. That being an overbought StochRSI, a Confirmed Reversal on the SCMR candle system, a cluster of buy volume, and (still waiting on) a blue bar print on my indicator system.

An open of 7 satoshis or higher, with some volume, leaves the door open for a rally to 12 or even 18 depending on how things go.

The second chart shows very tight Bbands. That is a sign to watch a market for a breakout from a range.

The third chart confirms the range and even shows it as a possible Wykoff model forming. All of these points all suggest setting conditional orders and letting the market play out its algorithm.


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