Trade Plan for WIFUSDT (4-Hour Chart)
Analysis & Market Context:
WIFUSDT has shown consistent bearish momentum over the past few weeks but seems to be finding a temporary bottom near $1.50-$1.60. The volume profile indicates a slight uptick in buying pressure near this support zone. The asset has entered a potential consolidation phase, suggesting a possibility of a reversal or continuation trend depending on key levels.
Key Levels:
Support: $1.50
Resistance: $2.00, $2.50
Immediate Resistance: $1.70 (minor resistance from recent highs)
Trading Strategy:
1. Entry Point:
Aggressive Entry: Near $1.60 (current price level) with proper risk management.
Conservative Entry: Wait for a breakout above $1.70 with confirmed volume.
2. Stop Loss:
Set below $1.48 to minimize risk, as a break below could signal further downside.
3. Target Levels:
Target 1: $1.85 (short-term target based on recent resistance)
Target 2: $2.00 (medium-term resistance zone)
Target 3: $2.50 (key resistance for a strong trend reversal)
4. Risk Management:
Risk-to-reward ratio: Aim for 1:2 or 1:3 depending on entry and target.
Position sizing: Allocate only 1-2% of your portfolio to this trade.
5. Indicators to Watch:
RSI: Look for divergence or an oversold bounce for confirmation of upward momentum.
Volume: Ensure volume supports any breakout above resistance.
Scenarios to Monitor:
1. Bullish Breakout:
If WIFUSDT breaks above $1.70 with strong volume, it could head toward $2.00 and higher.
2. Bearish Breakdown:
A break below $1.50 would invalidate the bullish outlook and could lead to retesting $1.30 or lower.
Disclaimer:
This trade plan is for informational purposes only. Conduct your own research and analysis before making any trading decisions.
Let’s hear your thoughts! Are you bullish or bearish on WIFUSDT? Share your insights!
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