The easiest thing to fall for during a sudden move is a trap. I’m treating this current rebound in $WIF as a bull trap. The daily price is still below both moving averages, and the broader trend hasn’t turned. A short-term bounce doesn’t mean the structure has changed, so don’t let one bullish candle sway you.
Looking at the chart, rebound volume isn’t picking up, and price hasn’t broken through resistance above. This kind of bounce looks more like an opportunity for bears to enter. As long as price can’t push higher, it’s more likely to head down and test support, so I’m leaning bearish.
🔴 Trade direction: Short
📍 Entry range: 0.1617044 – 0.1619813
🛑 Stop-loss: 0.1650126
🎯 Take-profit 1: 0.1594656
🎯 Take-profit 2: 0.1578807
🎯 Take-profit 3: 0.1555034
There’s no need to chase the wind; it will settle in its own time.
Stand shoulder to shoulder with Sister Li, and let every moment leave an echo.
#WIF
Click below to trade 👇
Looking at the chart, rebound volume isn’t picking up, and price hasn’t broken through resistance above. This kind of bounce looks more like an opportunity for bears to enter. As long as price can’t push higher, it’s more likely to head down and test support, so I’m leaning bearish.
🔴 Trade direction: Short
📍 Entry range: 0.1617044 – 0.1619813
🛑 Stop-loss: 0.1650126
🎯 Take-profit 1: 0.1594656
🎯 Take-profit 2: 0.1578807
🎯 Take-profit 3: 0.1555034
There’s no need to chase the wind; it will settle in its own time.
Stand shoulder to shoulder with Sister Li, and let every moment leave an echo.
#WIF
Click below to trade 👇