BitTorrent Price Prediction: BTT Peaks With 5% Growth, Yet This Meme Coin Could Surpass 100x

Updated: 30 October 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The BitTorrent price has started the week with a bang, soaring 22% on Sunday to breach the $0.0000004586 resistance level. However, the breakout proved premature, with the price pulling back 12% to close the October 29 trading session at $0.0000004319. In the Monday session, BTT attempted another breakout, with its intra-day high testing the $0.0000004586 roadblock. At 10:40 am EST, BitTorrent’s price is $0.000000447, featuring among the day’s most significant gainers.

Top Daily Crypto Gainers | 30/10/23

1- #AxieInfinity $AXS⁰2- #GALA $GALA
3- #BitTorrent $BTT
4- #InternetComputer $ICP
5- #Decentraland $MANA

Source: @CoinMarketCap pic.twitter.com/qoH9Te8kJf

— Sjuul | AltCryptoGems (@AltCryptoGems) October 30, 2023

BitTorrent Price Prediction After Solid Recovery Rally

BitTorrent’s price is sitting on the support confluence between the horizontal line and the 100-day Exponential Moving Average (EMA) at $0.0000004268. Increased buying pressure above current levels could see BTT shatter past the $0.0000004586 level, potentially going as high as reclaiming the Sunday high of $0.0000004919.

A decisive candlestick close above the immediate hurdle at $0.0000004586 would mark the completion of the recovery rally, setting the stage for a solid uptrend. In such a case, the altcoin could shatter past the critical resistance at $0.0000004902, clearing the equal highs.

Meanwhile, the Fair Value Gap (FVG), which extends from $0.0000005111 to $0.0000005233, continues to act as a magnet for BitTorrent price. An FVG represents an inefficiency or imbalance that needs to be filled. As long as the price does not test it, there remains a magnet pull, beckoning an uptrend to fill this inefficiency.

In a highly bullish case, BitTorrent’s price could extend to test the FVG. To confirm an uptrend past this order block, BTT must break and close above its midline, otherwise termed “consequential encroachment,” at $0.0000005170. A decisive move above the aforementioned level could send BTT to the $0.0000005500 psychological level. Such a move would constitute a 25% climb above current levels.

The Relative Strength Index (RSI) is above the 70 level, recording 78, which means BTT is massively overbought. However, it is still not ripe for selling, considering its overall trajectory is still upwards. The outlook also draws support from the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD). Both indicators are in the positive territory, with green histogram bars to show bulls are leading the market.

BitTorrent price — TradingView: BTT/USDT 1-day chart

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