Instrument: WIFUSDT
Time Frame: 1D
Exchange: Bitget
Trading Type: SwingTrading
The meme coin rally seemed to be slowing down, but the recent surges in Doge and Pepe have reignited the trend. Based on this, I’ve set up a buying strategy for WIF.
Using the daily chart, I identified two potential patterns:
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Cup and Handle Pattern: If WIF breaks above the previous high at $4.85 and confirms support through a retest, there’s a strong possibility of further upside.
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0.5% AB=CD Pattern: After rebounding from the 0.5% Fibonacci level on the 26th, WIF could complete this pattern by fully breaking above the previous high, aligning with the conditions for the cup and handle pattern.
While the target for Pattern 1 may seem ambiguous, Pattern 2 provides a clearer price target, enabling a more structured trading plan.
The PRZ (Potential Reversal Zone) target for the AB=CD pattern is above $6.7.