*WIF/USDT* is on the verge of a breakout, forming a W pattern which is typically a bullish reversal signal.
If it breaks out and closes above the resistance zone, it could confirm the breakout and potentially start a bullish move .
However, if it breaks down and closes below the support zone, it would invalidate the bullish outlook .
Currently, WIF/USDT is trading at 1.8720 USDT with a 7.46% increase in price and a 12.02% increase in volume .
The technical analysis shows a buy signal, with indicators such as the Relative Strength Index (14), Stochastic %K (14, 3, 3), and Commodity Channel Index (20) suggesting a bullish trend
*Key Levels to Watch:*
- _Resistance Zone:_ 1.8769 USDT
- _Support Zone:_ 1.7015 USDT
- _Breakout Point:_ Closing above resistance zone
*Trading Ideas:*
- Wait for a Change of Character ( towards a more bullish market structure for extra confirmation
If WIFUSDT breaks out and closes a candle above the resistance zone, it will confirm the breakout of the trendline and validate the W pattern (or possibly even a triple bottom).
WIF can give us a chance to short from key resistance zone as it plays an important level to crack the breakout
This could be the start of a bullish move!
