đ WIF/USDT - Strong Bullish Trend! đ
WIF is currently trading at $2.5394 after a strong bullish breakout, maintaining an upward momentum. The price has pushed through previous resistances, but it's approaching key resistance levels that could either lead to a pullback or a continuation of the rally.
đ„ Key Observations:
Bullish OB: Strong buy zones around $2.2243 - $2.3367, which have helped drive the price higher.
Bearish OB: There is potential resistance at $2.5024 and $2.4867, which could lead to a rejection if buyers lose momentum.
Uptrend Structure: The price is currently riding along a green ascending trendline, maintaining higher lows and higher highs, indicative of continued bullish strength.
đŻ Long Setup:
đ Entry for Long: If you're looking to go long, an entry around $2.4800 - $2.5000 could provide a good risk-reward ratio, especially if the price dips toward the Bullish OB zones.
đŻ Take Profit Targets for Long:
1. TP1: $2.6426 â Near the current high and immediate resistance.
2. TP2: $2.7000 â Extended target if the uptrend continues to push higher.
3. TP3: $2.8000 â A further breakout could take WIF into this territory.
đĄïž Stop Loss for Long: Place your stop loss below $2.3367, just under the Bullish OB to minimize risk while giving the trade some breathing room.
đ Short Setup (In Case of Rejection):
đ Entry for Short: If WIF fails to break the $2.6426 resistance level, consider shorting around $2.6400 - $2.5000, especially if bearish signals start appearing (e.g., lower highs, weakening volume).
đŻ Take Profit Targets for Short:
1. TP1: $2.4800 â A conservative target just above support.
2. TP2: $2.3367 â Where the strong Bullish OB sits, potentially offering support.
3. TP3: $2.2243 â A deeper target if the sell-off gains strength.
đĄïž Stop Loss for Short: Place your stop loss above $2.6600, which will protect your trade in case of a sudden upward breakout.