$BTW The bearish trend remains intact. Price is currently bouncing off the 1.80 support level and testing dynamic resistance formed by EMA9 (2.05) and EMA21 (2.08). This is a classic technical rebound within a larger downtrend.
· The 2.05–2.08 zone is a strong supply area, where price may face heavy selling pressure.
· Key observation: Price recently rebounded from 1.80 to 2.02, but this was not accompanied by an increase in open interest. This suggests the rebound was driven by short covering rather than aggressive new buying. The lack of fresh capital makes the current rebound look weak and highly prone to reversal.
$BTW Short strategy (preferred)
· Short entry: 2.06–2.10
Wait for price to test the area around EMA21 and show clear signs of bearish rejection.
· Stop loss: Above 2.17
· Take profit:
· TP1: 1.85
· TP2: 1.81 (retest of the major swing low)
If you support my analysis, trade here 👇#btw #bitway
· The 2.05–2.08 zone is a strong supply area, where price may face heavy selling pressure.
· Key observation: Price recently rebounded from 1.80 to 2.02, but this was not accompanied by an increase in open interest. This suggests the rebound was driven by short covering rather than aggressive new buying. The lack of fresh capital makes the current rebound look weak and highly prone to reversal.
$BTW Short strategy (preferred)
· Short entry: 2.06–2.10
Wait for price to test the area around EMA21 and show clear signs of bearish rejection.
· Stop loss: Above 2.17
· Take profit:
· TP1: 1.85
· TP2: 1.81 (retest of the major swing low)
If you support my analysis, trade here 👇#btw #bitway