WIF traders continue to buy every dip, reigniting bullish sentiment. With a rising wedge pattern forming, there is potential for a rally.
This comes as WIF traders continue to buy every dip, reigniting bullish sentiment. With a rising wedge pattern forming, there is potential for a rally, especially in this bullish quarter.
But a break below $2.50, confirmed with a retest, might invalidate the bullish outlook and push WIF toward the $2.20 or $2.00 zones. If the price moves just two cents higher, liquidations could rise to $790,000, making the $2.70 zone a potential target. Price movements tend to follow high liquidity areas, so this could push WIF higher.On the downside, a move to the $2.40 zone could trigger liquidations worth $824,000, potentially pushing the price further down to $2.00. This would also represent a retest of a broken double top pattern on the daily timeframe.
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