Bitway – Why BTW’s rally faces THIS test after $3.2M short liquidations

Bitway [$BTW] has extended its rally from $0.45 to $2.75 in roughly three weeks. The rally, which began on the 21st of September, reflects a sharp shift in market momentum. On the 14th of October, Bitway went up 46% in 24 hours to $2.61.

This move outperformed Bitcoin [BTC] and the broader market. Meanwhile, trading volume rose along with the price, a sign of stronger participation behind the rally. Specifically, it rose by 61.74%, reaching $149.71 million.

Notably, the token continued its rally, creating a new all-time high at $2.75. However, the rally encountered resistance near it. This may be as a result of some traders locking in profits gained from the rally.

The token later on retraced back to $2.53, where it was trading as of writing time. Furthermore, the RSI stood at 81.43, which places Bitway in extreme overbuy conditions.

Therefore, it is likely that a short-term decline will occur due to being in an extremely overbought position.

Still, the long-term outlook is positive, as long as buyers continue to protect the area between $2.40 and $2.50. If Bitway can hold onto this range, it may be able to establish stability in the price and possibly lead to an additional try at the $2.63 resistance.

Conversely, losing $2.40 could trigger a deeper pullback toward $2.05–$2.10, testing whether recent gains reflect sustained demand or speculative momentum.

Bitway’s short squeeze faces rising liquidation pressure

Bitway’s rapid climb toward $2.80 forced bearish traders to close positions, which caused a continuation of the rally due to short squeeze. Over 24 hours, the token accumulated over $3.48 million in liquidations.

Of that, short liquidations accounted for $3.20 million, while longs accounted for $274.78k of the total.

However, when the price was rejected at $2.75, it shifted pressure back to the leveraged buyers since the price fell from $2.45 to $2.50. Long position liquidations were approximately $23.43K within an hour.

In other words, this simply implies that late buyers were already taking a loss.

Below that zone sits concentrated liquidity clusters around $2.25–$2.32, which push the prices further downwards should the selling accelerate.

On the other hand, defending the $2.40–$2.45 zone may help buyers regain control and challenge $2.68–$2.75. This is because this is where the next support lies, where buyers could absorb the selling pressure.

All together, these levels could determine whether $BTW stabilizes or extends its correction.

Final Summary

• Bitway surged 46%, rising toward $2.75, but overbought conditions raise correction risks.

• $BTW risks $2.25–$2.32, while $2.40–$2.45 support could fuel recovery.