Bitway (BTW) Rockets 250% in a Month: Perfect Time to Short?

"Everyone will be looking to short here, so don’t go all in," one analyst advised. The viral altcoin BTW is the best-performing cryptocurrency today (October 14), up nearly 40% in a single day and 250% over the last month. It currently trades around $2.50 and has a market capitalization of almost $4 billion. The triple-digit monthly increase has put the token in the spotlight, fueling expectations that the price could climb even higher in the near future. However, many think now is the perfect time to open short positions, and certain indicators support a bearish scenario. Major Red Candle Incoming? Despite the crypto market’s heightened volatility, Bitway has experienced a nearly uninterrupted upward trajectory lately and is now the 32nd-largest digital asset, after flipping popular altcoins like Bittensor (TAO), Shiba Inu (SHIB), Cronos (CRO), and many more. The impressive price increase has rewarded early buyers with significant profits (at least on paper), leaving many market participants wondering if the asset’s uptrend still has room to continue. Nonetheless, multiple analysts warn that a short-term correction, and even a major collapse, are now more likely. X user Zayn noted...