Идеи Анализ Worldcoin to Go Bullish in June?

Worldcoin to Go Bullish in June?

May 16, 2024 Анализ
BITmarkets | Worldcoin to Go Bullish in June?

After setting record highs in March of 2024, Worldcoin (WLD) has subsided towards what many regard as a robust support area and has hovered within it for more than a month.

Cryptocurrencies typically exhibit three fundamental movements: an uptrend, a downtrend, and a range correction phase. Currently, WLD is undergoing a range correction phase.

The fresh cryptocurrency has catapulted in significance to become the 80th largest cryptocurrency by market capitalization, and WLD buyers have realized the cryptocurrency's 30% growth since the start of 2024.

When will Worldcoin spike out of correction mode?

Key focus areas

The core purpose of a range correction move is to accumulate the liquidity necessary for the asset's next directional move. This analysis uncovers that there has been notable activity in both Sell-side Liquidity (SSL) and Buy-side Liquidity (BSL), with new areas of liquidity forming for each.

Once liquidity areas are identified in the technical analysis, it becomes crucial to focus on the Fair Value Gaps (FVG).


WLDUSD - 1 Day Time Frame

On the attached chart, these are indicated as "Sell-side Imbalance Buy-side Inefficiency" (SIBI) labeled as number 1, and "Buy-side Imbalance Sell-side Inefficiency" (BISI) labeled as number 2.

WLD has situated within the Discount zone on the weekly timeframe for some time, which typically indicates a higher likelihood of initiating buy positions. However, the presence of range correction tempers this probability and suggests the possibility of executing sell orders.

Possible scenarios

Given the established entry criteria for trades, two potential price development scenarios exist:

Scenario 1: A close on the daily timeframe below FVG number 2 suggests the potential for a sell order.

Scenario 2: Conversely, a close above FVG number 1 increases the likelihood of a price rise.

Understanding these dynamics allows traders to strategically position themselves in anticipation of the asset's next significant movement.

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