🔥🔥Trade Analysis 52: $WIF -- has the Bear Market Ended? My Advanced guide to trade WIF.
WIF has dropped 78% from its All-Time High (ATH) of $4.866 on March 31st, followed by several Lower Highs and Lower Lows, indicating a bearish trend. However, the price has found support around the $1.0 level and is currently trading at $1.50.
Let's explore potential scenarios for WIF to inform our trading strategy:
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1. Continued Decline: If the price breaks below $1.37 with high volume, it may continue to fall to the $1.0 support level or even lower to $0.71. Experienced traders might consider shorting in this scenario.
2. Bullish Breakout: Alternatively, a breakout above $1.64 with high volume could signal a bullish trend. The price might rise to the $2.0 resistance level or even further to $2.56. Consider going long in this scenario and taking profits at the resistance level.
3. Extended Consolidation: The price may remain within a narrow range between $1.37 and $1.64. In this case, a neutral grid strategy could be employed, buying at $1.50 and selling at either $1.37 or $1.64 to capture potential profits from price fluctuations.
That's it for today $WIF Trade Analysis. I hope this analysis help you make smarter trade decision.
Trade Smarter! Peace Out ;)
