That bounce off the lows looked aggressive, but the real test is just ahead.
$BTW USDT — NO TRADE
Why no trade?
The 21% rebound from $0.275 is impressive, but it's now running straight into heavy overhead supply at the $0.350 level, which aligns with the 24h high and a previous breakdown zone. With the price up nearly 30% from its bottom and facing such a clear resistance level, the risk/reward for a long entry is poor here. A breakout would need strong momentum and volume to clear this hurdle, but without confirmation, chasing this move is a gamble.
Patience is key. A successful retest and consolidation above $0.350 could be a valid entry, but for now, waiting on the sidelines is the disciplined move for $BTW
$BTW USDT — NO TRADE
Why no trade?
The 21% rebound from $0.275 is impressive, but it's now running straight into heavy overhead supply at the $0.350 level, which aligns with the 24h high and a previous breakdown zone. With the price up nearly 30% from its bottom and facing such a clear resistance level, the risk/reward for a long entry is poor here. A breakout would need strong momentum and volume to clear this hurdle, but without confirmation, chasing this move is a gamble.
Patience is key. A successful retest and consolidation above $0.350 could be a valid entry, but for now, waiting on the sidelines is the disciplined move for $BTW