🟢 Looking for a reversal point: what’s happening with $BTW ?
Trading volumes are declining in a falling market, while the RSI and Stochastic RSI indicators are registering oversold conditions. Such conditions often precede a technical bounce as short positions are closed and a major player establishes a local bottom. Nevertheless, the trend remains subdued, so long positions require strict risk management.
🟢 Trading plan: Local bounce from EMA(99)
Main scenario: Long (buying a bounce from the support zone and EMA(99)).
Entry points:
Conservative: 0.9500 — 0.9700 (considering the current squeeze and the test of the lower boundary of the range).
Aggressive: 0.9900 (current levels are around EMA(99)).
Stop-loss: 0.8800 (a close below key support would invalidate the bullish scenario).
Targets:
Target 1: 1.1500 (+16.1%)
Target 2: 1.3200 (+33.3%)
Target 3: 1.5500 (+56.5%)
Trade 👉$BTW
Trading volumes are declining in a falling market, while the RSI and Stochastic RSI indicators are registering oversold conditions. Such conditions often precede a technical bounce as short positions are closed and a major player establishes a local bottom. Nevertheless, the trend remains subdued, so long positions require strict risk management.
🟢 Trading plan: Local bounce from EMA(99)
Main scenario: Long (buying a bounce from the support zone and EMA(99)).
Entry points:
Conservative: 0.9500 — 0.9700 (considering the current squeeze and the test of the lower boundary of the range).
Aggressive: 0.9900 (current levels are around EMA(99)).
Stop-loss: 0.8800 (a close below key support would invalidate the bullish scenario).
Targets:
Target 1: 1.1500 (+16.1%)
Target 2: 1.3200 (+33.3%)
Target 3: 1.5500 (+56.5%)
Trade 👉$BTW
