WIFUSDT → A reversal set-up. Breakdown 2.100

Oct 3

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 ★ WIFUSDT ;)

Regards R. Linda!

Oct 5

Trade closed: target reached