Bitway (BTW) rose 43% in 10 hours on October 5, recovering partially after the weekend correction. However, the short-term trend still leans bearish, as the price has yet to break above 1.53.
The daily and hourly charts are sending different signals: the longer-term support zone is holding, but overhead supply zones remain an obstacle to a recovery.
The 1.4–1.53 zone is a hurdle on the hourly chart
BTW still has a bearish bias on the hourly chart following the weekend correction.
A move up to 1.53 could still be just a recovery within a short-term downtrend. Until BTW breaks above this level, a return to the 0.81–0.87 zone remains a scenario to consider.
And I’ve chosen the scenario of a return to 0.81–0.87—and that’s the end! What about you?
#BTW #congabeo
The daily and hourly charts are sending different signals: the longer-term support zone is holding, but overhead supply zones remain an obstacle to a recovery.
The 1.4–1.53 zone is a hurdle on the hourly chart
BTW still has a bearish bias on the hourly chart following the weekend correction.
A move up to 1.53 could still be just a recovery within a short-term downtrend. Until BTW breaks above this level, a return to the 0.81–0.87 zone remains a scenario to consider.
And I’ve chosen the scenario of a return to 0.81–0.87—and that’s the end! What about you?
#BTW #congabeo