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WIF / TetherUS PERPETUAL CONTRACT

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WIFUSDT.P trade ideas

Phemex Analysis #29: RSI Divergence Raises Concerns for WIFPHEMEX:WIFUSDT.P has experienced a remarkable 93% surge over the past month, indicating a significant increase in market confidence. However, recent price action has shown signs of weakness, raising questions about the sustainability of this bullish momentum. A 1D RSI divergence observed on October 14th further complicates the picture, as the price is rising while the RSI is declining. Analyzing the RSI Divergence A 1D RSI divergence occurs when the price creates a higher high, but the RSI forms a lower high. This divergence often signals a potential reversal or a pause in the uptrend. In the case of WIF, the divergence suggests that the buying momentum may be waning, and a correction or consolidation phase could be imminent. Overall Bullish Sentiment Despite the recent divergence, the overall bullish sentiment surrounding WIF remains strong. The 93% surge over the past month is a clear indication of growing investor interest and confidence in the project. This positive sentiment could continue to drive the price higher, especially if there are further developments or announcements that support the bullish narrative. Potential Scenarios 1. Continuation of Upward Trend: If WIF can overcome the RSI divergence and sustain its upward momentum, the price could continue to rise. Positive news, increased adoption, or favorable market conditions could fuel further gains. 2. Temporary Correction: A correction or consolidation phase may be necessary to digest the recent gains and allow for a more sustainable uptrend. If the price retraces but remains above key support levels, it could be seen as a healthy buying opportunity. 3. Reversal: In the worst-case scenario, the RSI divergence could signal a reversal of the uptrend. However, this would require a significant breakdown below key support levels and a change in market sentiment. Potential Trading Strategy Given the current market conditions, a cautious approach may be prudent. Traders could consider the following strategies: I. Partial Profit Taking: For those who have already realized substantial gains, taking profits on a portion of their position could help protect against potential losses. II. Tight Stop-Loss Orders: Placing tight stop-loss orders below key support levels can help limit losses in case of a sudden price decline. III. Wait for Confirmation: Traders could wait for a clear breakout above the resistance level or a confirmation of a bullish reversal pattern before entering new positions. Conclusion While WIF's recent surge is a positive sign, the RSI divergence suggests that a period of consolidation or correction may be necessary. Traders should be mindful of the potential risks and carefully evaluate the market conditions before making investment decisions. If WIF can successfully overcome the current challenges, it has the potential to continue its upward trajectory. Tips: Trade Smarter, Not Harder with Phemex. Benefit from cutting-edge features like multiple watchlists, basket orders, and real-time strategy adjustments. Our unique scaled order system and iceberg order functionality give you a competitive edge. Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
by Phemex
Sell WIF/USDT Wedge Breakout in H4The WIF/USDT pair on the H4 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Wedge pattern. This suggests a shift in momentum towards the downside in the coming Days. Key Points: Sell Entry: Consider entering a short position around the current price of 2.61, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 2.22 2nd Support – 2.03 Stop-Loss: To manage risk, place a stop-loss order above 3.01. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_FOREX_TRADING
1
WIFUSDT long using proprietary multi-timeframe trend detectionFollowing an initial tap of the liquidity at the last significant high back in July, we've seen a retrace back down to our short term trend (13D EMA). I like the reaction we've seen there today and am taking an early stab at a long with half size here (because not all of my LTF buy signals have triggered as of yet. First TP level will be the next logical D1 resistance that'll likely cause a bit of a pullback. Entry: 2.5579 SL: 2.4914 TP: 3.2127 Short term I'd like to see the H4 close back above the short term trend around 2.70 as this would signal a confirmation of reversal.
Long
by backo3456
WIFUSDT Breakdown Confirmed: Is a Bigger Drop Coming? Yello, Paradisers! Is #WIFUSDT about to extend its decline? With a rising wedge pattern broken and key levels in sight, things could get intense soon! Here’s the critical breakdown: 💎#WIFUSDT has been consistently forming higher highs and higher lows. However, a rising wedge pattern developed, with multiple taps on the upper side acting as resistance. The wedge has now broken to the downside, confirmed by a retest of the support, and signaling a potential continuation of the bearish trend. 💎After the breakdown, there’s a high probability that WIFUSDT will retrace back to the 0.618-0.66 Fib zone for a retest. This area could provide a temporary bounce, but the overall trend remains bearish. 💎If WIFUSDT continues to fall, we could see a deeper correction taking the price to this crucial Fib level 0.786 which is around 2.38-2.30. A strong support zone around 2.03 , If the broader market weakness persists, this is where the next major stop could be. Keep an eye on this level as it could act as a solid floor. 💎There’s also a probability that WIFUSDT might spike upwards towards the supply zone, which aligns with the 0.786 Fibonacci retracement. However, even if this happens, the move will likely be followed by a further drop, so beware of potential bull traps in this zone. 💎The bearish thesis will be invalidated if we see a candle close above the supply zone at 2.9946. Stay cautious, Paradisers. The market is showing signs of weakness, and the next leg down could be significant. Keep these levels on your radar! MyCryptoParadise iFeel the success🌴
Short
by MyCryptoParadise_Jack
Lingrid | WIFUSDT buy Pullback. Long from the SUPPORT zoneBINANCE:WIFUSDT has been consistently making higher highs and higher lows, indicating a bullish sentiment on the 4H timeframe. However, the market began to pull back just below the psychological level of 3.00. Upon examining the daily chart, we can also identify a strong resistance level in this area. Consequently, I believe the market may enter a consolidation phase within the range of 2.50 to 3.00. Correction before extension. I expect the market to retrace towards the support level before moving upwards to test the liquidity above the psychological level. My target is resistance zone at 3.00 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Long
by Lingrid
4
Potential selloff WIFso price took out several higher time frame highs at the left and I expected to selloff at least to that 1h POI that swept all the liquidities on the left side and is kind of a strong low and what we can do is we can sell it toward that 1h demand and if price showed any bullish signs we it reached that demand we can buy it towards the high.(because it can easily go through it) our range is between those check marks and price is in premium right now and showed us a bearish micro trend in 30 and 15 min timeframe so if price formed a swing low and showed any chance to enter short I'm gonna send it here and keep you all updated. best of luck <3
Short
by IEatGreenPaper
WIF ANALYSIS🔮 #WIF Analysis - Breakout 🚀🚀 💲💲 There is a breakout of Falling Wedge Pattern in #WIF. It's a daily time frame breakout and we will see more higher price in long-term. Already a successful retest is done, we woulf see proper a rally in few days 📈📈 💸Current Price -- $2.378 📈Target Price   --  $3.813 ⁉️ What to do? - We have marked crucial levels in the chart . We can trade according to the chart and make some profits. 🚀💸 #WIF  #Cryptocurrency #Breakout #DYOR
Long
by ZEUS_Market_Alerts
WIF Stuck in a Wedge Pattern: Patience is Key For a BreakoutWIF is forming a very long but distinct WXYXZ wedge pattern, tightly confined within its channel. The structure is clear, with repeated ABC corrective waves confirming the pattern’s integrity. While the setup is clear, it suggests we may have to trade within the boundaries of the channel for now. For those looking to trade short-term, focus on the key levels within the wedge, but be prepared to wait patiently for the eventual breakout—it could take time, but when it happens, it should be significant.
by cryptechcapital
dogwifhat WIF price is preparing to pleasantly surpriseYesterday, when the crypto market was falling, CRYPTOCAP:WIF price held up quite well. This may mean that the growth target has not yet been reached. In continuation of our global idea from 07.05.24, where we wrote that buying OKX:WIFUSDT at $1.35 is not a bad idea!) Now we can assume that #dogwifhat buyers are preparing to exit the protracted upward correction channel. As long as the price of #WIFUSD is in the range of $2-2.25 and above, the upward trend remains. TP1 - $3.50 TP2 (medium term) - $4.80 _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
7
WIFUSDT perpetual may go downside!WIFUSDT perpetual may go downside from BEARISH ORDER BLOCK There is a bearish order block between 2.4984 and 2.4028 . The selling pressure may apply on that area. so we may see the price come down. lets see what happen. I have analyzed the charts using Advanced price action theory SMART MONEY CONCEPTS . My analysis suggests open the position at order block around 2.4028 Entry point :- 2.4028 Take Profit :- 2.1637 Stop loss :- 2.6379
Short
by PraveenTrader1
6
WIFUSDT → A reversal set-up. Breakdown 2.100BINANCE:WIFUSDT changes the market structure to bearish. Traders are moving into the phase of profit-taking after the rally. The market is not ready to go up yet. The rally stops at the strong resistance zone at 2.639. A local false breakdown is formed relative to the extreme upward movement, indicating that buyers are not ready yet and sellers have come to the market (profit-taking). At the moment the market is testing 2.100 and is ready to break this support. A pullback is possible before breaking down. BUT, if the buyers now enter this zone and consolidate below 2.100, the prospect of further decline will come very quickly. Resistance levels: 2.15, 2.2 Support levels: 2.100, 1.96. 1.95 A breakdown and consolidation below 2.100 will activate strong selling amid a general bear market. If the price further enters the flat channel, it may cause a decline to 1.45 Rate, share your opinion and questions, let's discuss what's going on with ★ BINANCE:WIFUSDT ;) Regards R. Linda!
Short
by RLinda
3
WIF - Barking Towards New Highs - Last Shot! Alright, let’s dive in. With everything in a crucial area, September is shaping up to be a volatile month for the markets, especially with upcoming US jobs data and the FOMC meeting. We might see the first rate cuts. While caution is definitely warranted, there are still opportunities worth pursuing. With that in mind, invalidation points are crystal clear. Both $POPCAT and NYSE:FET have specific levels where they would turn bearish if things don’t go as planned. I'm considering a long position here, aiming for higher highs and potentially new peaks if CRYPTOCAP:BTC ’s low is confirmed. Of course, everything depends on how the upcoming events unfold. But giving it another shot seems worth the risk. MAX LONG NOW :)
Long
by ZelfTrade
6