At Coin Inquire, we offer free price signal of
Bytom (BTM) and other cryptocurrencies. Today July 06 we are beginning a new series of free signals for top cryptocurrencies including Bytom (BTM).
Bytom (BTM) Overview
Established in early 2017, the Bytom (BTM) Blockchain project was launched to develop a protocol that could tokenize assets from the physical world and represent them in the digital world on a decentralized network. Aiming to help businesses and individuals to register and exchange assets such as securities, bonds, deeds and various types of information, the Bytom blockchain uses a proof-of-work protocol that designed to enable customized contracts, promote AI technology, and provide unique identifiers for assets following a standardized naming convention.
Bytom ( BTMBTC ) Chart Analysis
I started to look at this chart… This was the one that caught my attention, here is what I see… This is the chart:
- BTMBTC hit a low on the 13 of May, and this low was retested on the 28 of June, but not quite since it hit a bit higher, creating a higher low.
- The first attempt to break above EMA10 above this love produced a high volume inverted hammer . A bullish candlestick which indicates in this position an upcoming change of trend.
- We have the double bottom/higher low and the bullish candlestick supporting each other.
- The indicators are also moving higher, gaining momentum and creating higher lows.
- There is good potential to move up from here…
- The weekly time frame supports this analysis and shows that BTMBTC can move up from here after consolidation. Consolidation here can take as little as 1-3 weeks.
Bytom ( BTMBTC ) Trade
Buy-in: 0.00001366 – 0.00001477
Next support: 0.00001250
Profits potential: 83%
(Buy-in calculated at 0.00001447)
Stop-loss: Close weekly (1W) below 0.00001100.
Capital allocation: <5%.
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.