Bitcoin prices surged 250% and then fell back, but the momentum remained unchanged

Bitway prices pulled back after briefly hitting all-time highs, but strong inflows and bullish structures suggest that bulls have not yet lost control.

Summary

Bitway prices peaked around $0.775 after rising nearly 250% from recent lows. BTW pulled back about 18% from its all-time high due to profit-taking by traders. The daily RSI reached 87.45, and the tokens have entered a deeply overbought area. The $0.50 support level on the 4-hour chart may determine whether the rally can continue.

Bitway prices cool after hitting all-time highs

According to Bitget spot chart data, Bitway (BTW) was trading at approximately US$0.63 as of writing. Despite falling back from an intraday high of $0.7746, the token maintained a gain of about 46% on the day. BTW began to accelerate its rise after breaking through the US$0.20 region in early August, then broke through the US$0.30 and US$0.40 barriers in turn, and rose almost vertically above US$0.60 on August 19. Bitway rose by about 330% from a low around $0.18 on August 11 to a high of the day; and from its recent breakthrough area around $0.22, the increase was about 250%.

The long upper shadow on the daily candle chart indicates selling pressure above $0.70. BTW fell from a high to $0.63, a drop of about 18%, as early holders and short-term traders took profits after rapid gains. Even so, the daily candle chart remained strongly positive, and prices were well above the previous trading day's range, which meant that at the time the chart was recorded, the correction did not erase the latest breakout.

Incentive activities boost BTW demand

The broader rally stems from incentive programs designed to incentivize users to acquire and deposit BTW. Bitway's decentralized traditional financial pledge program offers a basic annualized rate of return of 8%(paid in USDT), plus an additional 4% return on platform points. Binance Wallet's Bitway Booster's Season 5 event provided an additional reward APR of more than $200,000. These plans provide users with reasons to buy and hold the token directly while competing for time-limited revenue. BTW's relatively small market cap may have amplified this trend as new demand poured into a market that is far less liquid than mainstream cryptocurrencies.

However, reward-driven demand may weaken once the event starts or the top yield becomes less attractive. Traders may also sell tokens obtained through incentive programs, creating an additional supply after the initial accumulation period. As a result, the sharp correction on August 19 was more like a cooling period after an overheated expansion than a confirmed trend reversal. Whether this trend turns into a deeper correction will depend on how much demand remains after activity-driven buying slows.

Bitway momentum remains strong despite overbought RSI

Bitway's daily chart still shows strong momentum. The Moving Average Convergence and Divergence Indicator (MACD) remains bullish, with the MACD line at 0.0972 and the signal line at 0.0633. The positive bar chart expands to 0.0339, indicating that upward momentum on the daily cycle is still accelerating. At the time of the chart recording, there was no bearish MACD dead cross.

The Relative Strength Index (RSI) sends a more cautious signal. The daily RSI reached 87.45, well above the regular overbought threshold of 70, while its moving average was at 79.08. Such a high RSI reading reflects strong buying pressure, but also suggests that prices are rising too fast relative to their recent range. Therefore, even if the broader uptrend continues, BTW may experience further volatility or sideways consolidation.

The long upper shadow line near $0.775 strengthens this risk. Buyers pushed the token to a new high but failed to maintain full gains, indicating a sharp increase in supply above $0.70.

$0.50 is the key to a bullish structure

Bitway's 4-hour chart provides the clearest level of determination of whether momentum is intact. Supertrend indicators remain bullish and set dynamic support around $0.504. At the time of the chart recording, BTW was trading at approximately $0.625, approximately 24% above that support. Therefore, as long as buyers can hold on to the breakthrough level, a price correction to $0.55 or $0.50 may still be in line with the existing upward trend.

Cai Jin's Flow of Funds Indicator (CMF) read 0.41, also pointing to strong net capital inflows. Although the indicator fell back from local highs, it was still well above zero, indicating that buying pressure still exceeded selling pressure during the measurement cycle.

Immediate resistance is around $0.65, followed by a psychological level of $0.70 and a historical high area of $0.75 to $0.775. If the closing price of the 4-hour chart breaks through this range, BTW may enter the price discovery stage again, with $0.80 and $0.90 becoming the next visible targets. On the downside, a break below US$0.60 could push prices towards US$0.55 and support for supertrend indicators around US$0.50. A loss of $0.50 would weaken short-term structures and expose early breakthrough areas between $0.42 and $0.44.

Volatility remains the main risk for BTW traders

The sharp rise in BTW makes the token more susceptible to larger percentage swings than Bitcoin or Ethereum. When considering exposure, U.S. traders should consider the token's low liquidity, exchange availability, and reward-related demand, rather than viewing the rise as a broad cryptocurrency market trend. The daily RSI shows Bitway has overheated, while the upper shadow line near $0.775 confirms traders are willing to sell in sharp gains. Still, bullish MACD, positive CMF and prices above the four-hour hypertrend indicator support all suggest that momentum has not yet been broken.

Holding above $0.50 will maintain the current structure. A continued break below that level would be the first stronger signal that the 250% rally has shifted from consolidation to a broader correction.