Bit Torrent Token is On A Tear
This is a technical analysis chart watcher’s dream. It doesn’t get any better than this. The action this past several days on Bit Torrent Token has produced one of the easiest-reading bar charts you could possibly ask for.
There are 5-straight triangular movements in a row for this bull run with the candlesticks bouncing off the 25-day moving average line, as depicted on this chart taken from Binance.
Looking at the MACD, we see a perfect oscillation from green to red as each surge and pullback cycle takes place. What I’m looking for at the end of this chart is the pullback and crossover of the MACD. When that happens, it could provide an opportunity to double-down and increase my position before the next surge.
It’s risky business, because we don’t know how long this ride is going to last. I’m just hoping we get a few more of these fantastic triangles, and I’ll try my hand at buying on the dips and selling on the peaks for a small amount of money.
With BTC surging and giving no signs of a sensible pullback, this action could continue for a few more days. Good luck if you’ve got this one, and don’t play with crypto unless you have money you’re willing to lose!
NOT financial advise