WIF — Trade Setups Don't Have To Be Complex!

The current WIF chart provides a super straightforward picture. Overall, we have three areas to watch:

1️⃣ $1.5 — Main support level. The drop on Monday pushed the price below this level. However, WIF recovered quickly and is already back above!
2️⃣ $2.25 - $2.30 — The middle band that has been acting as support and resistance during the last 5 months.
3️⃣ $3.20 — The upper resistance of the channel. Breaking above this level is a crucial step to reaching a new ATH.

From a trading perspective, this is a rather simple setup. You don't need any technical indicators and can set up your strategy based solely on the support and resistance levels. Of course, it is crucial to set the stop loss slightly below the respective level.

As already mentioned, WIF has reconquered the lower support line. Accordingly, there is a good chance (especially when we see a confirmation today) that WIF is heading towards the middle band.