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.
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