WIF — Bullish MACD Trade Setup — 28% PotentialMany of you told me they prefer a written trade setup of a video. That's why I put together the most essential facts about the signal in this post.
What Happened? 👇
WIF flashed a bullish MACD crossover on the daily chart. Simplified speaking, this happens when a shorter-term moving average moves above a longer-term average. Practically, it tells you that the token is getting some upward momentum, which can lead to a further price increase.
Is This Signal Reliable? 🧐
Unfortunately, we can't run proper backtests on the daily WIF chart simply because there's not enough data available yet. However, on higher timeframes, such as the daily chart, the MACD is considered a valid signal.
What About Other Indicators? 💹
Momentum indicators are neutral, which is absolutely fine. For trend indicators, we (logically) see a mixed picture of bullish and bearish indicators. The ADX shows a light trend, which further seconds the bullish trend.
How About The Chart And Potential? 📉
After its dump, WIF found support at the level of $1.6 and bounced nicely. Therefore, the chart looks promising for further gains and some room to run toward $2.5 - $2.6
