🐳 $BTW 4-hour golden cross. A few thoughts from the perspective of someone holding a position:
The bearish momentum bars persisted for 13 four-hour candlesticks, which means sellers had the upper hand throughout that period. Now the selling pressure has finally eased. But the crossover is below the zero line, and there are still plenty of trapped holders above. If the rebound reaches the previous high-volume trading area, it could run into sell orders from people looking to break even.
What’s your gut feeling?
#BTW
The bearish momentum bars persisted for 13 four-hour candlesticks, which means sellers had the upper hand throughout that period. Now the selling pressure has finally eased. But the crossover is below the zero line, and there are still plenty of trapped holders above. If the rebound reaches the previous high-volume trading area, it could run into sell orders from people looking to break even.
What’s your gut feeling?
#BTW