🟢 1. Market Structure & Context
Since mid-April, WIF has escaped a deep base at 0.39–0.42 USDT, where large seller orders accumulated. A push through 0.52–0.54 USDT produced a clear Break of Structure (BOS), followed by a retest at 0.60 USDT that flipped this level into robust support. The bullish impulse gained strength with a Change of Character (CHoCH) above 0.62 USDT, driving price to a weak high of 0.72 USDT. Now WIF is retracing into the 0.58–0.60 USDT zone, where bulls defend their longs and bears probe the support.
🟢 2. Key Levels
- Resistance 0.70–0.72 USDT: weak high zone with evident selling pressure.
- Support 0.58–0.60 USDT: former BOS, now critical bull defense line.
- CHoCH Level 0.62 USDT: initial shift to bullish character, key for upside resumption.
- Primary Base 0.52–0.54 USDT: origin of the main rally, home to long-term buyers.
- Deep Demand 0.39–0.42 USDT: historical floor, unlikely to be revisited without major bearish force.
🟢 3. Volumes in Focus
- A volume spike on the break of 0.52–0.54 USDT indicated institutional long positioning.
- Retest of 0.60 USDT shows steady volume — buyers remain engaged, though not aggressively.
- Volume tapered off nearing 0.72 USDT, signalling buyer reluctance near supply.
- A modest volume uptick on bounces from 0.58–0.60 USDT suggests “smart money” accumulation at support.
🟢 4. Important Technical Signals
- BOS Up at 0.54 USDT: clear bull takeover.
- CHoCH Up above 0.62 USDT: early bullish claim.
- Weak High at 0.72 USDT: immediate supply clamp.
- Micro BOS Down on the 0.58 USDT retest: a skirmish in the wider trend.
🟢 5. Possible Development Scenarios
- Bullish: Holding 0.58–0.60 USDT and staging a volume-backed break above 0.72 USDT paves the path to 0.80 USDT, then the psychological 0.90 USDT. Volume confirmation on the next leg is crucial.
- Bearish: A break and close below 0.58 USDT, confirmed by a failed retest, would target 0.52–0.54 USDT, then slide back toward 0.42–0.45 USDT.
🟢 6. Strategic Recommendations
- Long: Enter on a clean bounce off 0.58–0.60 USDT, stop-loss under 0.57 USDT, target 0.72 USDT, then 0.80 USDT.
- Short: Look for reversal patterns at 0.70–0.72 USDT, stop-loss above 0.74 USDT, first target 0.60 USDT, then 0.54 USDT.
🟢 Conclusion
WIF’s breakout and retest above 0.60 USDT, followed by a peak at 0.72 USDT, mark a healthy uptrend. The current 0.58–0.60 USDT retest is the litmus test: holding this area will confirm continuation of the medium-term rally, while a break would signal a deeper pullback.
Hope this analysis will help you in future trading
