What explains the decline$BTW is not the chart, but the market absorbing the new supply after the recent token unlock. The price is 1.053, and the decline has exceeded 7%, but more importantly, the supply is concentrated in a few wallets, so any move by one of them affects the price more than any news.
The 1.00–1.02 zone is the dividing line, as it is both a psychological and technical level. Above it, a rebound remains possible; a clear break below it would increase selling pressure. Resistance starts at 1.15, then 1.20.
I expect the 1.00–1.02 zone to hold for a session or two, because absorbing this supply does not happen in a day. A clear close below 1.00 would mean that selling is not over yet.
This is analysis, not advice.
If you found this post useful, we’d appreciate your support with a like 👍
#BTW #Bitway #BinanceSquare
The 1.00–1.02 zone is the dividing line, as it is both a psychological and technical level. Above it, a rebound remains possible; a clear break below it would increase selling pressure. Resistance starts at 1.15, then 1.20.
I expect the 1.00–1.02 zone to hold for a session or two, because absorbing this supply does not happen in a day. A clear close below 1.00 would mean that selling is not over yet.
This is analysis, not advice.
If you found this post useful, we’d appreciate your support with a like 👍
#BTW #Bitway #BinanceSquare
