Reviewed by Reviewed by Jacob Thomas Updated 01:15 EDT October 7, 2026 Share Share Share Back to Top The native token of the Bitcoin-compatible Layer 1 blockchain Bitway [BTW] was one of the altcoins that made strong gains earlier this week. On Monday, the 5th of October, the altcoin rallied 43% in 10 hours
The altcoin pushed from a low of $0.91 to $1.31, seemingly undoing a good chunk of the weekend’s 49.2% correction from $1.72 to $0.86
It was likely that the conclusion of the Binance Wallet’s Bitway Booster Season 5 on the 2nd of October led to the wave of profit-taking over the weekend. Capital flows into smaller altcoins, and the subsequent sentiment shift also helped explain BTW’s bullishness
The positive price reaction to start this week was a good sign
On the 1-day timeframe, the $0.77 local resistance zone of August and mid-September was overcome and also retested as a demand zone. BTW has kept its upward momentum going in recent weeks, though it has seen a correction from $1.72 to a dip below $1 over the past week
The A/D indicator continued to creep upward despite the correction. The selling volume was not high compared to the buying spree in July and August, but there was concern. Trading volume needs to pick up the pace to keep the rally going
To the north, the $1.99 Fibonacci extension level was the next price target, now that the $0.81-$1.0 demand zone has been tested and defended as support
Though the higher timeframe bias was bullish, the weekend correction shifted the lower timeframe trend bearishly. At the time of writing, BTW was trading just below the $1.30 supply zone at the 50% retracement level of the recent correction
As such, a rally toward $1.53 might be part of the short-term bearish move. Traders can maintain a bearish bias for now and wait for a dip toward $0.87-$0.81 before looking to buy
There were $552 million in liquidations in 24 hours, $482 million of them long, as Bitcoin briefly dipped to $83.6k. Interesting for the BTW bulls, the altcoin hardly reacted to this market-wide price dip
Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories
