A 35% fall in WIF from its current price levels is possible

WIF has just broken below the 200 EMA on the H4 timeframe and reacted to an imbalance area.

From here, it’s possible for a pullback to form in an ABC pattern with low volume on the upward move, potentially testing the resistance zone where the 200 EMA may also act as resistance.

Looking at the BTC chart, there’s still room for further downside, which supports our thesis.

Using the RSI across the M15 and H1 timeframes to identify overbought areas with divergence could serve as the entry trigger.

Let’s see what this week brings!