BitTorrent(BTT) attracted many traders amid the bull run with a gigantic rally that killed a couple of zeros in its price. Despite the steep crash that hit the lower support levels a couple of times, yet the tendency to propel towards the north prevailed. And hence, the BTT price could go parabolic to hit the strong resistance levels around $0.008.
The asset initiated with the current month trade with pretty good recovery after bottoming hard around $0.002. Undergoing an extremely bullish trend, the price smashed its immediate resistance levels above $0.0045. However, a slight correction has come in between the rally, but a bounce-back is imminent.
One of the analyst’s figures out the upcoming path for the BTT which is set to complete the parabolic pattern at $0.008.
As per the chart posted by the analyst, the RSI appears to have to display a large cup patter. And continuing with the pattern, the price could eventually hit $0.008 by the first week of September. The analysts also say that the price can also hit the bottom levels once again before rising towards the target. And hence providing yet another chance for the traders to enter the deal.
Collectively, BitTorrent price could accumulate immense bullish momentum and record consecutive green candles in the coming days. Currently, the BTT price needs to sustain within the resistance zone between $0.0045 to $0.0048 in order to maintain a bullish trend. To hit the target at $0.008, initially, the pivotal levels at $0.007 needs to be attained. And later forming a new ATH could be imminent.