BTW/USDT (4H): Compression at the EMA50 — getting ready for a technical rebound?
After a swift rise to the local high of $1.4472, the $BTW pair ran into aggressive profit-taking. The price quickly pulled back into the moving averages zone, where compression around the EMA50 ($1.010) is currently being observed.
The RSI(6) indicator dropped to 38.15, signaling local oversold conditions, while the price has held above the key EMA50 support. This pattern often precedes a bullish rebound after an impulsive breakdown.
Trading plan (Main scenario: LONG)
The priority scenario is buying while the dynamic EMA50 support holds, with expectations for a test of the EMA21 level and then a return to the highs.
Entry points:
Aggressive: $1.040 - $1.060 (current compression range above the EMA50).
Conservative: $1.135 (after holding and breaking the EMA21 on the 4H candle).
Targets:
Target 1: $1.180 (~+12.3% from current) — testing the intermediate resistance.
Target 2: $1.300 (~+23.8% from current) — filling the impulsive drop candle.
Target 3: $1.440 (~+37.1% from current) — retest of the local high.
Stop-loss:
$0.95 (4H candle close below the EMA50 and the local low).
Trade 👉$BTW
After a swift rise to the local high of $1.4472, the $BTW pair ran into aggressive profit-taking. The price quickly pulled back into the moving averages zone, where compression around the EMA50 ($1.010) is currently being observed.
The RSI(6) indicator dropped to 38.15, signaling local oversold conditions, while the price has held above the key EMA50 support. This pattern often precedes a bullish rebound after an impulsive breakdown.
Trading plan (Main scenario: LONG)
The priority scenario is buying while the dynamic EMA50 support holds, with expectations for a test of the EMA21 level and then a return to the highs.
Entry points:
Aggressive: $1.040 - $1.060 (current compression range above the EMA50).
Conservative: $1.135 (after holding and breaking the EMA21 on the 4H candle).
Targets:
Target 1: $1.180 (~+12.3% from current) — testing the intermediate resistance.
Target 2: $1.300 (~+23.8% from current) — filling the impulsive drop candle.
Target 3: $1.440 (~+37.1% from current) — retest of the local high.
Stop-loss:
$0.95 (4H candle close below the EMA50 and the local low).
Trade 👉$BTW
