• @Savdoescrypto

BTSE Token Near All-Time Highs Despite Broader Market Pullback



In the face of a minor market dip this week, BTSE Token continues to close in on its all-time high price of $2.80.


Traders will note that last week's resistance zone has broken and become the new support zone shaded in blue. The final resistance zone is now at the all-time high price of $2.80, above which there is no more resistance.


Bulls will note that the 14-day RSI is approaching 80, a level commonly used by traders as a sign that a trend has sufficient bullish momentum to fuel further upside.


Short-term traders might be watching for RSI support at the 70 level, with the more medium-term traders potentially holding off for RSI support back at the blue support zone at ~50.


Bears, on the other hand, might perceive the inflated RSI as an indication of overbought conditions. Bearish traders may use a break below 70 on the RSI as a signal of a short-term top and an opportunity to go short.


Traders should also note that almost every BTSE Token holder is in profit. If the current price breaks above $2.8, every token holder will be in profit. This gives way to a dynamic where all of the upside resistance falls away as the market ventures into 'blue sky' territory.


As continued demand for the token fuels the bid, the extent of further upside may depend, in part, on the strength of the hands of the current BTSE Token holders.


That's it from me this week - I wish you all a terrific day and a great weekend.


Sav

@savdoescrypto

BTSE regularly hosts the technical analysis of experienced BTSE traders. Please note that we neither endorse any analyses published nor give you financial advice. Please make any trading decisions based on your own research.


Our aim is to create a platform that offers you the most enjoyable trading experience. If you have questions or suggestions, please don’t hesitate to reach out to us at feedback@btse.com or DM us on Twitter: @BTSEcom.

Categories
Company
Community

© 2019-2020 btse.com All rights reserved