WIFUSDT Breakdown Confirmed: Is a Bigger Drop Coming?
Yello, Paradisers! Is #WIFUSDT about to extend its decline? With a rising wedge pattern broken and key levels in sight, things could get intense soon! Here’s the critical breakdown:
💎#WIFUSDT has been consistently forming higher highs and higher lows. However, a rising wedge pattern developed, with multiple taps on the upper side acting as resistance. The wedge has now broken to the downside, confirmed by a retest of the support, and signaling a potential continuation of the bearish trend.
💎After the breakdown, there’s a high probability that WIFUSDT will retrace back to the 0.618-0.66 Fib zone for a retest. This area could provide a temporary bounce, but the overall trend remains bearish.
💎If WIFUSDT continues to fall, we could see a deeper correction taking the price to this crucial Fib level 0.786 which is around 2.38-2.30. A strong support zone around 2.03 , If the broader market weakness persists, this is where the next major stop could be. Keep an eye on this level as it could act as a solid floor.
💎There’s also a probability that WIFUSDT might spike upwards towards the supply zone, which aligns with the 0.786 Fibonacci retracement. However, even if this happens, the move will likely be followed by a further drop, so beware of potential bull traps in this zone.
💎The bearish thesis will be invalidated if we see a candle close above the supply zone at 2.9946.
Stay cautious, Paradisers. The market is showing signs of weakness, and the next leg down could be significant. Keep these levels on your radar!
MyCryptoParadise
iFeel the success🌴
💎#WIFUSDT has been consistently forming higher highs and higher lows. However, a rising wedge pattern developed, with multiple taps on the upper side acting as resistance. The wedge has now broken to the downside, confirmed by a retest of the support, and signaling a potential continuation of the bearish trend.
💎After the breakdown, there’s a high probability that WIFUSDT will retrace back to the 0.618-0.66 Fib zone for a retest. This area could provide a temporary bounce, but the overall trend remains bearish.
💎If WIFUSDT continues to fall, we could see a deeper correction taking the price to this crucial Fib level 0.786 which is around 2.38-2.30. A strong support zone around 2.03 , If the broader market weakness persists, this is where the next major stop could be. Keep an eye on this level as it could act as a solid floor.
💎There’s also a probability that WIFUSDT might spike upwards towards the supply zone, which aligns with the 0.786 Fibonacci retracement. However, even if this happens, the move will likely be followed by a further drop, so beware of potential bull traps in this zone.
💎The bearish thesis will be invalidated if we see a candle close above the supply zone at 2.9946.
Stay cautious, Paradisers. The market is showing signs of weakness, and the next leg down could be significant. Keep these levels on your radar!
MyCryptoParadise
iFeel the success🌴
Note
BINGO! #WIFUSDT moved downside for 15.41% after touching supply zone, did what just we predicted.
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