Candlestick Structure & Pattern $WIF

Price $WIF forms a lower high around 0.8946 → potential formation of a distribution pattern / minor double top

Currently, the price breaks down from the dynamic support MA-7 and is also seen falling below MA-99

The next strong support is around 0.7803, then 0.7235

🔥 Volume & Market Sentiment:

Large trading volume (431.78M WIF), but there is dominant selling pressure.

Market sentiment is very bearish:

Buy 30.09% vs Sell 69.91%

This indicates that the majority of traders are already in a sell position or anticipating further declines.

🧠 Analysis and Potential Strategy:

🚨 Bearish Scenario (currently dominant):

Entry short: when the 4h candle closes below 0.8150

Target 1: 0.7800, Target 2: 0.7235

Conservative Stop Loss: 0.8550

✅ Bullish Scenario (rebound):

Technical rebound may occur from the area 0.7800–0.7650

Speculative buy entry: 0.7800 (bounce)

SL: below 0.7600

Rebound target: 0.8400 – 0.8900

🔍 Conclusion $WIF

Currently, the short-term trend has turned bearish, with dominant selling pressure and a decline from key resistance levels.

Confirmation of breakdown if the price continues to move below 0.8150–0.8100

Buying potential is only attractive if a strong reversal candle appears from the lower support.