WIF May Double and Set New Highs

In today's analysis, we highlight WIF, a cryptocurrency that has been forming clear bullish market structures for the second consecutive month.

While it’s possible to enter buy positions at current levels, effective money management is crucial. It’s important to monitor key technical parameters and understand how to set limit orders for the trade.

Daily time frame analysis

WIFUSD - 1 Day Time Frame

Choosing the right time frame is essential when analyzing price movements. From our perspective, the algorithms used by major commercial investment entities prioritize the singularity of parameters.

In simpler terms, if you’re monitoring the Fair Value Gap, it’s crucial that it appears within the bounds of balanced price action, as shown on the attached chart.

When to buy WIF?

Since the gap defines the support zone, traders must keep a close eye on this area. If the price closes below the lower boundary of the support zone on the daily time frame, it’s advisable to sell part of the position.

The basic limit orders—Stop Loss and Take Profit—should be placed as indicated on the chart. The internal higher low should provide enough space for price movement, and traders can withdraw partial profits when the price reaches key Buy-Side Liquidity levels.