🚨 BTW is crashing! The 24-hour decline has reached -22.3%, with another 8.9% drop in the past hour. Bearish sentiment is clearly heating up!
But here’s the interesting part: OI is down just 1.0%, retail traders are about 1.4× bearish, and the discussion forum has been bearish over the past 4 hours, with 78 mentions but no KOLs. Meanwhile, the market has also seen a 6.44% rise over 15 minutes and a funding rate of -0.5539%—conflicting data that needs verification.
📊 What does this mean? Everyone is waiting for a rebound to short, but negative funding could also leave bears vulnerable to a sudden squeeze. The biggest risk isn’t getting the direction wrong; it’s chasing the drop at the very end and getting stopped out by a rebound right after entering a short.
🎯 Key levels:
Watch range: $1.55–$1.67
Downside target being called by the market: $0.50–$0.60
The downtrend only continues if the price breaks below the range on increased volume.
My view: bearish, but don’t chase the sell-off! Only look for continued downside if the rebound is on low volume and the price breaks back below the range. If it reclaims $1.67 on strong volume, beware of a short squeeze.
Do you think BTW will drop to $0.50–$0.60 first, or rebound and break above $1.67 first? 👇
#BTW #short-squeeze
But here’s the interesting part: OI is down just 1.0%, retail traders are about 1.4× bearish, and the discussion forum has been bearish over the past 4 hours, with 78 mentions but no KOLs. Meanwhile, the market has also seen a 6.44% rise over 15 minutes and a funding rate of -0.5539%—conflicting data that needs verification.
📊 What does this mean? Everyone is waiting for a rebound to short, but negative funding could also leave bears vulnerable to a sudden squeeze. The biggest risk isn’t getting the direction wrong; it’s chasing the drop at the very end and getting stopped out by a rebound right after entering a short.
🎯 Key levels:
Watch range: $1.55–$1.67
Downside target being called by the market: $0.50–$0.60
The downtrend only continues if the price breaks below the range on increased volume.
My view: bearish, but don’t chase the sell-off! Only look for continued downside if the rebound is on low volume and the price breaks back below the range. If it reclaims $1.67 on strong volume, beware of a short squeeze.
Do you think BTW will drop to $0.50–$0.60 first, or rebound and break above $1.67 first? 👇
#BTW #short-squeeze