#WIF王者归来 High Time Frame Analysis, Buy Zones and Triggers

Many people are looking for good spot entries either because they missed out on the recent move or because they took profits. Therefore, I thought it would be helpful to share a full analysis of my thought process for a new investment in WIF. I was already accumulating WIF before the recent move and I sold half of my position in the last few days after Coin went public.

I think it is important to wait for the meme to cool down a bit after an impulsive move before considering a new buy. Retail investors have just acquired WIF through Coin and Kraken US which has led to high interest. The RSI for HTF is in the overbought area. I don’t like to buy in excitement and prefer to wait for a correction period where retail investors abandon their positions.

For WIF, I look for an RSI reset on the 12H towards the 50 area and ideally below 35. A 4H RSI reset below 35 could also be a trigger if confluence is obtained from any of the indices discussed in the past few days

The first area of ​​interest is 3.43, there is a demand zone and a weekly POC. As my RSI is at the level of interest, I am willing to bid this area. This would be a 30% drop from the CB high, which means that many retail traders abandoned their positions. As shown in the chart below, we also have a fib level in the same area.

The second area of ​​interest is around 2.88, which is unlikely to be reached if the market maintains momentum. More precisely, an undeveloped weekly POC, at 3.04, is slightly above the second buy zone, and this level needs to be considered as well. There is also a fib level near the second buy zone. If I get it, I plan to add 50% to each buy zone.

In terms of targets, I think WIF can reach the 7.218 area in this cycle. This is the 1.618 fib level, which is considered a good TP area for coins that lack data because they are in the price discovery phase. PEPE just reached the same area yesterday. At this level, WIF would be worth just under $8 billion, which is not unrealistic for a top meme in a bull cycle, especially with new listings in the U.S. market. I would personally be willing to put my recent profits into this position, which can only be followed up on the spot given the higher DCA area.