$BTW is testing the same zone again and again!
$BTW has now reached a resistance around an $8B FDV for the 3rd time in just one month.
And honestly, this token has been moving pretty violently 😅
We’re seeing very high volatility, with moves that can easily trap both longs and shorts.
What’s even more interesting is that the supply appears to be very heavily cornered. This could explain some of these brutal moves. When the available liquidity is limited, a few large positions can move the price very quickly.
But that doesn’t necessarily mean $BTW will reject this zone.
The $8B FDV area is definitely a level worth watching closely.
Personally, I’d rather wait and see how price reacts before making a decision. Because with $BTW, trying to be the smartest guy in the room can get expensive 😂
High volatility + cornered supply + major resistance = slippery territory.
#trading
$BTW has now reached a resistance around an $8B FDV for the 3rd time in just one month.
And honestly, this token has been moving pretty violently 😅
We’re seeing very high volatility, with moves that can easily trap both longs and shorts.
What’s even more interesting is that the supply appears to be very heavily cornered. This could explain some of these brutal moves. When the available liquidity is limited, a few large positions can move the price very quickly.
But that doesn’t necessarily mean $BTW will reject this zone.
The $8B FDV area is definitely a level worth watching closely.
Personally, I’d rather wait and see how price reacts before making a decision. Because with $BTW, trying to be the smartest guy in the room can get expensive 😂
High volatility + cornered supply + major resistance = slippery territory.
#trading