🔥Technical analysis of WLD + liquidation chart (the most detailed analysis takes about 1 hour)
- H4 frame, also integrating the liquidation chart into TradingView
- Why did the price increase? Pay attention from a detailed technical analysis perspective.
👉As you can see, at 15:00 on April 19, WLD officially broke out of the medium-term trendline at the price range of 0.725 - 0.73, breaking the structure and bouncing up, hitting the short resistance zone at 19:00 on April 21, with a price of 0.785-0.8, which is also the liquidation zone.
👉After that, the price decreased briefly. But no, after the short-term price drop, $WLD continued to activate its immortal mode, breaking through the short-term resistance barrier at 3:00 on April 23, with an RSI of 72, while also liquidating some SHORT positions here.
👉WLD continued to contest with the long-term trendline, adjusting up and down and distributing from 11:00 on April 23 to 19:00 on April 24, in the RSI range of 82 - 62 and the price from 0.84-0.88. Here, WLD officially broke out of the long-term trendline, establishing a medium-term uptrend starting from here.
👉The game begins from here, WLD continues to rise strongly, moving towards the next resistance zone and continuing to contest for about 8 hours, with an RSI from 80 - 85, and a price range from 0.97-1. WLD continues to break through the medium-term resistance zone and liquidate most of the short positions in the price range of 0.98-1.07.
👉Currently, WLD is on its way to the long-term resistance zone (I have integrated both resistance zones because this is a very high liquidation area that has not been broken), this is the point where spot or futures traders can consider taking profits. If it continues to break out, WLD may sweep all SHORT positions in the price range of 1.25-1.45 and start to reverse direction.
