$BTW IS SHOWING WEAKNESS. DONâT IGNORE THE STRUCTURE. đ„¶
Most traders are looking at the price drop, but the real story is what happened after the pump. đ
BTW rallied from around $1.65 to above $2.60, but buyers failed to maintain that momentum. Since then, the price has been making lower highs and gradually losing strength. đ€
Now look at the 1H chart. đ
BTW is trading near $2.17, and sellers are still putting pressure on the price. The previous recovery has started to fade, and the market has not shown a strong reversal yet.
Here is what matters now.
If BTW fails to reclaim the $2.25â$2.30 zone, another move down remains possible. The $2.00 level is an important area to watch. If selling pressure continues, $1.80 could come into focus, with the $1.65 region as a deeper downside target.
But donât get this wrong. A falling price does not guarantee another dump. If buyers reclaim $2.30 and push through $2.40, the bearish setup starts losing strength.
My view: The structure currently favors sellers, but confirmation matters more than predictions.
The biggest mistake in crypto is choosing a direction and refusing to change your mind when the chart changes.
Trade the structure. Manage your risk. Never let your opinion become bigger than the market.
Most traders are looking at the price drop, but the real story is what happened after the pump. đ
BTW rallied from around $1.65 to above $2.60, but buyers failed to maintain that momentum. Since then, the price has been making lower highs and gradually losing strength. đ€
Now look at the 1H chart. đ
BTW is trading near $2.17, and sellers are still putting pressure on the price. The previous recovery has started to fade, and the market has not shown a strong reversal yet.
Here is what matters now.
If BTW fails to reclaim the $2.25â$2.30 zone, another move down remains possible. The $2.00 level is an important area to watch. If selling pressure continues, $1.80 could come into focus, with the $1.65 region as a deeper downside target.
But donât get this wrong. A falling price does not guarantee another dump. If buyers reclaim $2.30 and push through $2.40, the bearish setup starts losing strength.
My view: The structure currently favors sellers, but confirmation matters more than predictions.
The biggest mistake in crypto is choosing a direction and refusing to change your mind when the chart changes.
Trade the structure. Manage your risk. Never let your opinion become bigger than the market.