$BTW has broken below the 2.4 level. There are two scenarios from here:
① If it rebounds to 2.4 but fails to reclaim it, that level turns into resistance, with the 24-hour low of 1.83 as the next level to watch.
② If it quickly reclaims 2.4, this move looks more like a false breakdown, and short positions could easily get squeezed.
I’m paying closer attention to buying support on the first rebound.
Markets involve risk. Trade with caution.
① If it rebounds to 2.4 but fails to reclaim it, that level turns into resistance, with the 24-hour low of 1.83 as the next level to watch.
② If it quickly reclaims 2.4, this move looks more like a false breakdown, and short positions could easily get squeezed.
I’m paying closer attention to buying support on the first rebound.
Markets involve risk. Trade with caution.