In today’s analysis -$WIF - correcting from a strong bullish expansion, confirming a S/R Flip retest at key support will allow for a long trade.
Points to consider ✍️
- Value Area High S/R Support
- Declining Volume
- .618 Fibonacci Support
- Daily S/R Support
- Swing High Objective
The immediate price action is correcting, it is trading towards a region of technical confluence, that being the .618 Fibonacci, Daily S/R Support and Value Area High.
Confirming a bullish retest at this region of needs to be backed with increasing volume, the current volume profile has declined visibly below average.
Overall, in from Bitcoin Insider’s perspective, WIFUSDT is a valid long with defined risk, price action it to be used upon discretion/ management. ✍️
Hope this analysis helps.
