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$BTW uptrend has been severely broken. After forming a peak around 1.33 zone, price experienced a massive dump with a huge red candle, wiping out the previous gains.
· Short-term: price currently hovering around 0.89. Price is trying to find equilibrium after the crash, but subsequent recovery candles have small bodies, showing hesitation and a lack of buying force.
🎯 TRADING Set up
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$BTW SHORT Scenario (Priority - Following short-term downtrend):
· Condition: Price rebounds to resistance zone but fails to break above 1.00, forming a rejection signal
· Entry: 0.98 - 1.00
· SL: above 1.13
· TP :
· TP1: 0.85
· TP2: 0.76 (recently formed bottom zone)
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$BTW LONG Scenario (Bottom fishing - High risk):
· Condition: Price holds support zone at 0.75 and shows a bullish reversal with volume.
· Entry: 0.86-0.90 or wait for a retest to 0.76 - 0.78.
· SL: below 0.74 (recent bottom 0.75)
· TP:
· TP1: 1.00 (Psychological zone)
· TP2: 1.10 (Old resistance zone)
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#btw #bitway