Long

WIF Looking Good — Can We Get 2.25?

WIF was one of the biggest gainers last week, adding almost 40%. Based on the chart, it is likely we'll see a continuation of the uptrend.

Here's why:
• WIF faced resistance at the psychological $2 mark. Actually, it's not surprising after the intense climb.
• Afterward, WIF entered a descending channel you could interpret as a bull flag.
• Typically, a descending channel after a pump is considered a continuation pattern. Accordingly, we should see a breakout to the top at some point.

If this breakout happens, the price should quickly rise toward the level of 2.25 (calculated based on the previous pole flag).

Therefore, you should pay close attention to the upper trendline.

ben_walther

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