$BTW Momentum Meets Resistance
BTW is trading near 1.80 after a strong 24-hour move.
Two things have caught my attention: • Negative funding, which suggests perpetual futures positioning may be skewed toward shorts. • Rising open interest, indicating that exposure in the derivatives market is increasing.
Together, these conditions can support a squeeze, but they don't confirm one on their own. The direction of the next move still matters.
Key level: 1.84 resistance.
A convincing break above resistance could open the door to further upside. On the other hand, a rejection could trigger a pullback, especially after such a strong rally.
I'll be watching price action closely rather than assuming the next move is guaranteed.
Other coins on my radar: $MAGMA
and $XRP
BTW is trading near 1.80 after a strong 24-hour move.
Two things have caught my attention: • Negative funding, which suggests perpetual futures positioning may be skewed toward shorts. • Rising open interest, indicating that exposure in the derivatives market is increasing.
Together, these conditions can support a squeeze, but they don't confirm one on their own. The direction of the next move still matters.
Key level: 1.84 resistance.
A convincing break above resistance could open the door to further upside. On the other hand, a rejection could trigger a pullback, especially after such a strong rally.
I'll be watching price action closely rather than assuming the next move is guaranteed.
Other coins on my radar: $MAGMA
and $XRP