Pair: $WIF USDT
Timeframe: 1D (Daily candles)
📊 Chart Breakdown:
Pattern: Clear falling wedge structure — typically a bullish reversal pattern.
Downtrend since: December 2024
Current price: 0.379 USDT
Price action:
The price is hovering near the lower boundary of the wedge.
Volume seems to be drying up (common before a breakout).
📈 Trade Signal:
Setup:
Bullish breakout potential — falling wedges statistically break upwards 70% of the time when price approaches the apex.
Confirmation:
Break and daily candle close above 0.42 would confirm a breakout.
Volume increase is a good additional trigger.
📌 Risk Notes:
If price breaks down below 0.34 USDT, it invalidates this setup and might head towards 0.25 - 0.20 USDT.
Falling wedges sometimes fake out before a move — careful position sizing recommended.
✅ Summary:
Watch for a breakout above 0.42 USDT
Target 0.55 USDT, then 0.70 USDT
Set a stop-loss around 0.34 USDT