BTW Drops 9.6% and Stays Pinned Below the Averages: Is the Downtrend Still in Control?
Bitway (BTW) is trading around $0.97045, down 9.58% on the day, and the 4H chart shows a token still struggling to break out of a heavy downtrend.
After the steep slide from the $1.89558 peak, price carved out a low at $0.87116 and tried to bounce. The recovery pushed back toward $1.04, but sellers stepped in at the MA(25) and the latest candles have rolled over, bringing price back down to the MA(7).
What the chart is showing:
24h range: $0.87116 to $1.07484
24h volume: about $2.05M, with 32.7K transactions
Market cap: $2.92B, FDV: $9.70B
On-chain liquidity: about $2.85M, with roughly 43.7K holders
MA(7): 0.96707, now flat and sitting right at price, acting as a thin layer of support
MA(25): 1.06346, sloping down and rejecting every recent attempt higher
MA(99): 1.55791, far overhead and still falling, confirming the larger trend is bearish
Volume: the bounce candles came with only modest volume, and the MA(5) and MA(10) are nearly equal, so there is no clear buying conviction
My take: The bounce from $0.87 was a relief move, not a reversal. Price is still making lower highs and remains well below the MA(25) and MA(99), which keeps the bias on the bearish side. The first level to watch is the MA(7) near $0.967. If it gives way, the $0.87 low becomes the key support, and a break under it could open the door to deeper levels. For bulls, a clean 4H close above the MA(25) near $1.06 would be the first sign of a shift, with the 24h high at $1.07 right alongside it.
Also worth noting, the FDV is more than three times the current market cap, so future token supply can add selling pressure over time. I’m staying on the sidelines until price shows it can reclaim the MA(25) with real volume behind it.
#Bitway #BTW #CryptoAnalysis #TechnicalAnalysis #Altcoins
$BTW
Bitway (BTW) is trading around $0.97045, down 9.58% on the day, and the 4H chart shows a token still struggling to break out of a heavy downtrend.
After the steep slide from the $1.89558 peak, price carved out a low at $0.87116 and tried to bounce. The recovery pushed back toward $1.04, but sellers stepped in at the MA(25) and the latest candles have rolled over, bringing price back down to the MA(7).
What the chart is showing:
24h range: $0.87116 to $1.07484
24h volume: about $2.05M, with 32.7K transactions
Market cap: $2.92B, FDV: $9.70B
On-chain liquidity: about $2.85M, with roughly 43.7K holders
MA(7): 0.96707, now flat and sitting right at price, acting as a thin layer of support
MA(25): 1.06346, sloping down and rejecting every recent attempt higher
MA(99): 1.55791, far overhead and still falling, confirming the larger trend is bearish
Volume: the bounce candles came with only modest volume, and the MA(5) and MA(10) are nearly equal, so there is no clear buying conviction
My take: The bounce from $0.87 was a relief move, not a reversal. Price is still making lower highs and remains well below the MA(25) and MA(99), which keeps the bias on the bearish side. The first level to watch is the MA(7) near $0.967. If it gives way, the $0.87 low becomes the key support, and a break under it could open the door to deeper levels. For bulls, a clean 4H close above the MA(25) near $1.06 would be the first sign of a shift, with the 24h high at $1.07 right alongside it.
Also worth noting, the FDV is more than three times the current market cap, so future token supply can add selling pressure over time. I’m staying on the sidelines until price shows it can reclaim the MA(25) with real volume behind it.
#Bitway #BTW #CryptoAnalysis #TechnicalAnalysis #Altcoins
$BTW
