$WIF
/USDT technical analysis and trade strategy 🚀 🎯
Price Action Overview:
Current Price: $3.94 (+13.64% in the last 24 hours)
24h High: $3.967
24h Low: $3.401
Bid/Ask: 60.30% bid indicates strong demand.
Support/Resistance Levels:
Support: The recent low at $3.40 is a strong support area. If the price drops below $3.40, a potential bearish reversal might occur.
Resistance: The 24h high at $3.967 serves as a strong resistance point. A break above this could lead to further upward movement.
Trade Strategy & Target Keys 🎯
Target Key 1: Bullish Continuation
Entry: Enter at current price ($3.94) or wait for a slight dip to $3.80 (support level).
Target 1: $4.20 — Watch for a breakout above the 24h high of $3.967. A sustained push above this resistance could trigger a rally to $4.20.
Stop Loss: Set at $3.30 to limit potential downside risk, below the recent support.
Target Key 2: Pullback Scenario
Entry: If the price pulls back to $3.60–$3.70, consider entering long at this support range.
Target 2: $3.94 (resistance) — A retest of $3.94 is likely after a pullback. If it breaks, the next resistance is $4.20.
Stop Loss: Set at $3.30.
Target Key 3: Bearish Reversal (Counter-Trend Strategy)
Entry: Short if the price rejects at $3.967 (failure to break resistance) and falls back below $3.80.
Target 3: $3.40 — If the price breaks below the support at $3.80, it could retest the $3.40 low.
Stop Loss: Set at $4.05 to limit upside risk.
Risk Management & Execution:
Position Sizing: Use a conservative position size (e.g., 1–2% of your portfolio per trade) to manage risk effectively.
Take Profit: If price reaches the target levels, gradually take profits. You can scale out by selling portions of your position at each target level to lock in profits.
Trailing Stop: Consider using a trailing stop once the price hits the first target (e.g., $4.20) to protect profits in case of a reversal.