WIF HTF Bullish Idea WIF has been a phenomenal play in the meme world post Oct 2023.
It has seen a massive surge in price and has moved up almost 7000% since Jan 2024.
As of now price has been moving in a range since March and has posted an ATH at 4.8$.
From the chart, we can see clearly price has see an impactful move after sweeping RL of 1.95$ and has reclaimed back again after a sweep.
We can also figure out another Range formation and a LTF RL at 2.248 level
I believe we will sweep these lows and a quick reclaim triggers a Swing Long position for a move towards previous ATH and RH at 4.8-5$.
Remember put in proper risk management before going for any trade!
WIFUST trade ideas
Dogwifhat Tumbles 12% On Multiple FactorsDogwifhat ( CRYPTOCAP:WIF ), a dog-themed meme coin, has experienced a significant drop in price due to various factors. The price tumbled over 12% in the last 24 hours, with the current trading price at $2.58. The decline in the crypto market is attributed to meme coins such as CRYPTOCAP:WIF , BOME, PEPE, and FLOKI. Whales and traders are selling Dogwifhat ( CRYPTOCAP:WIF ) to book profits early as GameStop and AMC Theatres prices tumbled after a recent FOMO for upside. GameStop price fell after a spectacular rally last week, dropping more than 20% today after hitting a 52-week high of $64.83. A whale sold 732,481 CRYPTOCAP:WIF worth $1.85 million, purchasing the CRYPTOCAP:WIF holdings for $2.18 million but selling them at a loss. Other whales have also reflected the same sentiment to offload their holdings in $WIF.
Crypto analysts have pointed out $2.5 as the crucial support level to watch, with the next drop around $1.6 if CRYPTOCAP:WIF loses this level. The meme coin hype was triggered by GameStop's rally, and as the NYSE:GME price fell, so did the meme coins including BOME, PEPE, and FLOKI prices.
Derivatives traders have not started selling CRYPTOCAP:WIF , and the CRYPTOCAP:WIF exchange futures open interest rose nearly 5% in the past 24 hours. High confidence in derivatives traders could drive market action next week, with traders likely to crash CRYPTOCAP:WIF next week if the crucial support is broken.
Technical Outlook
Dogwifhat ( CRYPTOCAP:WIF ) token is down 8.8% as of the time of writing trading within the oversold region with the Relative Strength Index (RSI) sitting at 31.16. Technical indicators like the Moving Averages (MA), and Moving Average convergence Divergence (MACD) posit a bearish trend looming ahead for $WIF.
WIF/USDT | 1W 👀You can slowly add to the portfolio.
I haven't set any limit orders myself, so I'm taking from the current ones, as I believe the correction is already sufficient in proportion to the impulse.
Also, I'll note a very strong support level.
- Not financial advice, trade with caution.
✅ Stay updated on market news and developments that may influence the price of dogwifhat. Positive or negative news can significantly impact the cryptocurrency's value.
✅ Exercise patience and discipline when executing your trading plan. Avoid making impulsive decisions driven by emotions, and adhere to your strategy even during periods of market volatility.
✅ Remember that trading always involves risk, and there are no guarantees of profit. Conduct thorough research, analyze market conditions, and be prepared for various scenarios. Trade only with funds you can afford to lose and avoid excessive risk-taking.
#Crypto #WIF #Investment #dogwifhat
WIF: The hat stays on, no room for fearPersonally started building spot exposure for WIF
Few reasons:
- Bears didn't really achieve anything dramatic during this corrective move. The head and shoulders meme is just a meme once again
- Bull market corrections were needed, and they need to be scary. The more people are telling you "its over, WIF is going to zero" the healthier the correction has been. Long and slow consolidation period will kill enough excitement and no deeper corrections needed necessarily
- Memes have been the strongest performers so far and I dont see how and why that would change anytime soon as long as we are in bull market. So why wouldn't I just left-curve this and bet the strongest meme in the market?
Everything looks good for me.
Not financial advice, more like a journal for future self to explore.
WIF hat stays on?We can see here that bulls are trying to defend the current level 2.80
However, with Bitcoin struggling to hold 60k, WIF could revisit 2.60 to 2.50 level
Will have to see how the price develops here as ema50 already crossed below ema200 in hourly timeframe
ema50 - pink
ema200 - cyan
WIF looks bearishThe large structure looks like a diametric that is now in wave D of this large diametric.
Wave D itself looks like an ABC, we are now in wave b of D.
Wave b also seems to be a diametric that we are now in wave e of this diametric.
We have specified the fluctuations we expect from WIF on the chart.
By maintaining the red range, it can drop further down. We are looking for sell/short positions in the red range.
The targets are clear on the chart.
Closing a daily candle above the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
Dog has a hatThe thesis is simple,
DOG HAS A HAT
I bought the $2.2 level and then again the $3.7
I hope we get lucky to trade this $4.6-$3.2 range and load up more of CRYPTOCAP:WIF
WHY?
Because I'm counting on the meme mania from the last cycle continuing and also counting on the nature of people, which is to hit the casino and gamble. Meme coins are a gamble.
Over 181 million Americans play the Powerball lottery every single year, that's only one type of lottery. Desperate ''real life'' financial times (which are now) call for desperate measures and that is gambling and I think people will also come and hit our little decentralized casino aswell as the ordinary real life ones.
Now the fun part, PRICE TARGETS
We already flipped CRYPTOCAP:PEPE , not that importat rn. I will update this trade idea when we flip CRYPTOCAP:SHIB that's more than 4x from here, and that's when the real fun starts. CRYPTOCAP:SHIB ath was 40b mcap which is more than 10x from here. That is my first target.
This is my second bag size wise and I'm really expecting a lot from this one
See you on the other side.
Dogwifhat Price Surges 10% Flips two Ethereum L2s on Market CapDogwifhat ( CRYPTOCAP:WIF ), a meme coin, has risen nearly 10% to become the largest gainer among the top nine Ethereum Layer 2 (L2) networks, Optimism and Arbitrum. The rise in Dogwifhat's price follows the recent surge of Pepe ( CRYPTOCAP:PEPE ) and Cat in a Dogs World ($MEW), as Solana-based meme coins lead the sector.
Solana's fast and scalable blockchain technology has contributed to the success of meme coins built on the platform, such as CRYPTOCAP:WIF , $MEW, and Bonk Inu ( SEED_DONKEYDAN_MARKET_CAP:BONK ). With low transaction fees and high processing speeds, Solana provides an attractive environment for meme coin projects to operate efficiently and engage with a large audience.
Optimism and Arbitrum are among the most famous L2 scaling solutions on Ethereum due to their reduced transaction costs, compatibility with Ethereum Virtual Machine (EVM) and existing Ethereum smart contracts, and prioritization of security and decentralization through mechanisms like optimistic rollups. Several prominent decentralized finance (DeFi) projects and decentralized applications (dApps) have integrated with Optimism and Arbitrum, highlighting their practical utility and effectiveness. Community backing has also helped raise awareness and adoption of Optimism and Arbitrum.
However, the contention between Ethereum Layer 2 chains and Solana on matters of scalability continues. Transaction costs were significantly lowered by Ether's Dencun upgrade, and while the hard fork on the Ethereum mainnet has reduced fees for chains like Optimism and Base relative to Solana, critics argue that this may change with competition among Layer 2 chains.
Many Ways to Skin a Cat: Tailoring Risk Management The trading world is a diverse ecosystem, teeming with individuals seeking their own slice of the financial pie. Just like there's "more than one way to skin a cat," there are numerous trading styles, each with its unique approach to risk management. Let's delve into three common styles and how they navigate the inherent risks of the market:
1. The Swing Trader: Patience and Measured Risk
Trading Style: Swing traders hold positions for days, weeks, or even months, capitalizing on broader market trends. They analyze charts to identify potential turning points and aim to capture mid-term price movements.
Risk Management: Swing traders generally have a moderate risk tolerance. They typically:
Employ position sizing strategies, allocating a specific percentage of their capital to each trade.
Utilize stop-loss orders to automatically exit positions if the price falls below a predetermined threshold, limiting potential losses.
Focus on risk-reward ratios, ensuring the potential profit outweighs the potential loss for each trade.
Pros:
Requires less active monitoring compared to day trading.
Can potentially capture larger profits from sustained trends.
Cons:
Slower potential for accumulating profits compared to shorter-term trading styles.
Requires patience and the ability to withstand temporary price fluctuations.
2. The Day Trader: In and Out, Embracing Short-Term Volatility
Trading Style: Day traders are the adrenaline junkies of the trading world, entering and exiting positions within a single trading day. They capitalize on short-term price movements and market inefficiencies.
Risk Management: Day traders often have a higher risk tolerance due to the frequent nature of their trades. They:
Emphasize strict stop-loss discipline to manage potential losses quickly.
May utilize leverage (borrowed capital) to amplify potential gains, but this significantly increases the risk of larger losses.
Focus on managing their emotional state, as rapid price movements can lead to impulsive decisions.
Pros:
Potential for quicker profits due to the high number of trades.
Greater control over individual trades and the ability to adapt to changing market conditions.
Cons:
Requires significant time commitment and constant monitoring of markets.
Highly susceptible to emotional trading due to the fast-paced nature.
Amplified risk of losses due to the potential use of leverage.
3. The Leverage Trader: Magnifying Gains (and Losses)
Trading Style: Leverage trading involves using borrowed capital to magnify potential profits. This can be done through margin accounts in traditional markets or through derivative instruments like options contracts.
Risk Management: Leverage trading demands the utmost caution and sophisticated risk management strategies. Here's why:
Losses are also magnified, meaning a small price movement against the trader's position can lead to significant capital depletion.
Margin calls can force traders to sell assets abruptly to cover losses, potentially at unfavorable prices.
Deep understanding of leverage mechanics and the ability to manage emotions are crucial.
Pros:
Potential for exponential gains with smaller initial capital.
Cons:
Extreme risk of catastrophic losses exceeding initial investment.
Not suitable for beginners or traders with weak risk management skills.
Requires a high level of financial discipline and emotional control.
Remember: Regardless of your chosen trading style, effective risk management is the cornerstone of long-term success. Always prioritize capital preservation, understand your risk tolerance, and never gamble with more than you can afford to lose.
