🚨$BTW /USDT: Breakout Failed, Is the Next Move Down?
BTW attempted to push higher after a strong rally, but the rejection near the $2.69–$2.75 resistance zone shows that buyers are struggling to maintain bullish momentum. The price has pulled back to around $2.42, and the latest structure suggests that the breakout attempt has failed to deliver a sustained move above resistance.
On the 4H chart, the next key level is around $2.12–$2.15, where the 25-period moving average and a previous price area offer potential support. If BTW loses this zone, selling pressure could accelerate toward $1.90, followed by $1.75. A deeper correction could bring the price toward $1.60–$1.45, matching the bearish projection on the chart. The short-term structure remains vulnerable while price stays below resistance, and another rejection could strengthen the downside move. Bulls need to reclaim the $2.50–$2.69 area to challenge this bearish outlook. For now, the failed breakout puts downside risk back in focus.
Keep an eye on $SIREN & $AKE too.
Do you think it is heading for a deeper correction, or can buyers recover before the next support breaks?
BTW attempted to push higher after a strong rally, but the rejection near the $2.69–$2.75 resistance zone shows that buyers are struggling to maintain bullish momentum. The price has pulled back to around $2.42, and the latest structure suggests that the breakout attempt has failed to deliver a sustained move above resistance.
On the 4H chart, the next key level is around $2.12–$2.15, where the 25-period moving average and a previous price area offer potential support. If BTW loses this zone, selling pressure could accelerate toward $1.90, followed by $1.75. A deeper correction could bring the price toward $1.60–$1.45, matching the bearish projection on the chart. The short-term structure remains vulnerable while price stays below resistance, and another rejection could strengthen the downside move. Bulls need to reclaim the $2.50–$2.69 area to challenge this bearish outlook. For now, the failed breakout puts downside risk back in focus.
Keep an eye on $SIREN & $AKE too.
Do you think it is heading for a deeper correction, or can buyers recover before the next support breaks?