It looks to me like BTS may have found a new “low end” to bounce from, or at least to base and consolidate. The daily chart shows price bouncing a second time from important IT horizontal support (after a spike low test of major horizontal support and the 200 DMA). Relative volume is falling on red days and rising on green days. Nevertheless, price may be capped by MA and spike high resistance.
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The 4 hour chart looks encouraging, with a bullish 20-50 cross and up-trending Bollinger Bands, but the overhead resistance is still there, just with the 200 SMA looming at .55.
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And the 1 hour looks like a breakout that is currently backtesting and consolidating.
Time will tell, but I’d give the best odds to a range between .28ish and 49ish, and maybe a 20% chance of either a sustained break above .5 or below .2
An accumulation range so smart money can get onboard at a decent price?
