So far, BitTorrent is presenting itself as if it's started a new market cycle. You know what that means?! .... $$$$$.....
For confirmation, we NEED to see:
1. A bounce @ 12 (wave A) to hit 17 (wave B).
2. AND a complete re-test to 9 (wave C). (If we hit targets 12 & 17 then, 9 is highly likely to hit).
@ 9:
1. 2D MacD should be fully below histo.
2. The histo should be showing the largest red bar.
3. The next bar in the histo after hitting 9, should be pulling back and turning pink.
4. The MacD should start to converge and show signs of crossing (possibly @ 12).
5. RSI may be touching 30
IF all the above occur, it's a perfect storm! We could see a fantastic moon shot to 35! 288% PUMP
DON'T KNOW ABOUT YOU BUT, I'M READY FOR A TRIP TO THE MOON!
For confirmation, we NEED to see:
1. A bounce @ 12 (wave A) to hit 17 (wave B).
2. AND a complete re-test to 9 (wave C). (If we hit targets 12 & 17 then, 9 is highly likely to hit).
@ 9:
1. 2D MacD should be fully below histo.
2. The histo should be showing the largest red bar.
3. The next bar in the histo after hitting 9, should be pulling back and turning pink.
4. The MacD should start to converge and show signs of crossing (possibly @ 12).
5. RSI may be touching 30
IF all the above occur, it's a perfect storm! We could see a fantastic moon shot to 35! 288% PUMP
DON'T KNOW ABOUT YOU BUT, I'M READY FOR A TRIP TO THE MOON!
While taking a second look, something about the Bollinger Band was off. That's when I realized BTT may still be in consolidation mode all the way down to 3!
So, here's what I'm looking out for:
IF, BTT doesn't fall (to 12) and pumps to 20 (wave2)
THEN, we're STILL IN CONSOLIDATION mode!
And, it's going to be a doozy!
A bounce at 7 to 14, confirms a bottom (and end of market cycle) at 3!!
This treads so close to zero therefore, exercise extra risk management here. Possibly, wait for the bounce and the touch back to 3 before entering.