Many are shorting $BTW đ, but I think that's not the right time.
The daily structure is still intact đ, holding the previous swing high as key support and forming a hammer candlestick pattern.
On the hourly chart, we just saw a breakout of the trendline resistance, which is also a good signal of strength. However, we have a horizontal resistance shown in the chart above where the price is facing repeated rejections.
We need a higher low, and then we can target the zone I marked. Just watch the chartâif we get that higher low, we can take a swing long position. Right now, there is nothing good to short.
If we plan a short right here, it's just a gamble without any kind of confirmation. Trading needs patience and clear direction.
$BTW
#BTW #TechnicalAnalysis
The daily structure is still intact đ, holding the previous swing high as key support and forming a hammer candlestick pattern.
On the hourly chart, we just saw a breakout of the trendline resistance, which is also a good signal of strength. However, we have a horizontal resistance shown in the chart above where the price is facing repeated rejections.
We need a higher low, and then we can target the zone I marked. Just watch the chartâif we get that higher low, we can take a swing long position. Right now, there is nothing good to short.
If we plan a short right here, it's just a gamble without any kind of confirmation. Trading needs patience and clear direction.
$BTW
#BTW #TechnicalAnalysis