$WIF Here is a detailed analysis based on the information you provided about $WIF.
Price Overview.
Recent Long Liquidation: $6.2687K
Liquidation Price Level: $1.85173
This indicates a significant event where long positions were forced to close, likely due to price dropping below key support levels.
Technical Analysis
Current Scenario.
Support Level: $1.80 critical zone for buyers to hold.
Resistance Level: $2.00 near term resistance
If the price holds above $1.80, there’s a possibility of a reversal. If it drops below, the trend may shift downward.
Trading Plan.
Buy Zone.
Safe Entry: $1.75 to $1.85
This range is ideal for buyers as it represents a demand zone. Place buy orders here if the price shows signs of recovery.
Target Levels.
First Target: $2.00 minor resistance level.
Second Target: $2.20 strong resistance zone.
Stop Loss.
Place your stop loss at $1.70.
This ensures limited loss if the price continues to drop.
Strategy Recommendations.
1. Volume Analysis.
Monitor trading volumes. A strong rebound with high volume at $1.75-$1.85 is a positive signal.
2. Trend Confirmation.
Wait for a green candle close above $1.85 to confirm buying interest.
3. Risk Management.
Don’t risk more than 2-3% of your capital on a single trade.
Next Steps.
1. Watch price action around $1.85.
2. Enter the trade only when there are clear signs of recovery.
3. Use the buy zone, targets, and Stop loss as your guide for managing the trade.
Would you like further updates or help setting up the trade.
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