$WIF shorted from 2.43 and took a fat profit. Longs are probably viable soon but exercise proper risk management with a stop loss. Note this will be a scalp trade if you do go long. I am net bearish on dollar denominated instruments.
PPI on Friday I anticipate to miss the mark using today's economic data as a precursor. I am of the opinion that next week bitcoin will be under 60k if not this week. With that will drag WIF. However, WIF as of late has been quite defiant of the macro economy so we might see some relative strength in times of weakness. As has been evident today. Compare the charts of WIF and BTC to see what I mean.
I am done trading for the day, I wish you guys the best! As always,
