BitTorrent (BTT) a flurry of buying activity after its Binance Launchpad token sale, surging more than 900% from its initial sale price at one point. However, since peaking around $ 0.00125674 on February 5, BTT’s price has been in a steady downtrend. BTT is now down 10% in early Sunday trading to $ 0.000741, a drop of roughly 41% from all-time […]
SludgeFeed
Bitcoin (BTC) Likely To Retrace Short Term, Big Picture Remains Intact
Bitcoin (BTC) is expected to retrace after a prolonged rally since the beginning of this month. The 4H chart for BTC/USD shows that the price has entered a rising wedge. We can see that the price has already faced rejection three times at the top of the wedge and is now preparing for a fall. RSI has also entered overbought levels short term and is thus expected to correct in the near future. This should not come as alarming news for investors expecting a reversal. The big picture is still very much intact and Bitcoin (BTC) is starting to begin a new cycle. However, we believe that we may see some downside before sustained long term upside.
EOS Price Reaches for $7 While Other Markets Retrace Once Again
After yesterday’s initial excitement regarding the cryptocurrency markets yesterday, it seems most of the momentum has evaporated once again. Most of the top currencies are in the deep red again as we speak, even though the EOS price is the sole exception right now. Unlike the other currencies, the EOS price has risen by 11.41% in the process, which is interesting to keep an eye on.