Trade Analysis 37: $WIF - Crash, Boom, and Potential Boom

$WIF plummeted 63% from its recent high of $2.894 in just 12 days, only to rebound swiftly by 69% to $1.776 (at the time of writing) within a mere two days. It's been a rollercoaster ride for WIF holders, with substantial profits for those who entered around $1.0, as I mentioned in my previous post.

Now, let's break down potential scenarios for WIF's price in the coming days, for you to make smarter trade decision:

1. Continuous Rise: If the upward trend persists, the next resistance levels to watch are $2.0 and $2.5. However, a strong rejection is likely at these levels if the overall market sentiment remains bearish.

2. Gradual Decline: Alternatively, the price might dip slowly towards the $1.0 level, this time with a higher RSI and forming a solid base. Prolonged consolidation around $1.0 could present a buying opportunity.

3. Sharp Drop: A worst-case scenario involves a steep decline below the $1.0 support level with high volume. In this case, potential support levels to monitor are $0.5 and $0.35. Nonetheless, if BTC undergoes a sharp drop, it's advisable to stay on the sidelines and observe market conditions.

That's it for today $WIF Trade Analysis. I hope this short analysis help you make smarter trade decision.