WIF Weekly Analysis Feb 23

WIF is under pressure at the $0.20 level with a weekly %6.45 decline; Downtrend structure remains dominant, but it carries short-term recovery potential with an Oversold signal at RSI 35 and a positive MACD histogram. Although the market shows signals of transitioning to the accumulation phase, Bitcoin’s Bearish trend poses risk for altcoins.

WIF in the Weekly Market Summary

WIF traded in the $0.20-$0.22 range last week and maintained its primary Downtrend structure with a %6.45 loss. Volume profile remained low at $79.87M, while momentum indicators (RSI 34.99) point to the Oversold zone, and MACD shows a positive histogram suggesting Bullish divergence. No close above EMA20 ($0.23) reinforces the short-term Bearish bias. In the big picture, WIF stands at the threshold of transitioning from the distribution phase to accumulation in the market cycle; however, in the macro context, Bitcoin’s Downtrend and rising dominance limit the altcoin rally. For position traders, the trend structure remaining intact is critical – click here for detailed WIF spot analysis.

Trend Structure and Market Phases

Long-Term Trend Analysis

In long-term timeframes (1W/1M), WIF maintains a lower highs/lower lows structure; the primary Downtrend remains intact with a %42 pullback from the $0.3425 peak. Market structure signals Bullish internal structure with holding above recent swing lows ($0.1973), but the higher timeframe trend filter remains Bearish. According to Wyckoff methodology, re-accumulation is possible after the markdown phase, but volume confirmation is lacking. EMA50/200 death cross is complete, and breaking the $0.27 Resistance cluster is required for trend reversal.

Accumulation/Distribution Analysis

In volume profile analysis, the area around $0.20 shows a high volume node (HVN) carrying accumulation traces; $0.1800 major Support scores 68/100, forming a strong POC (Point of Control). Distribution patterns (failed spring tests) have been dominant in recent weeks, but RSI divergence exhibits accumulation phase characteristics – low-volume sales indicate exhaustion. If it holds above $0.1973, Wyckoff re-accumulation schematics come into play; otherwise, secondary distribution is triggered. WIF futures market data is ideal for confirming volume contracts.

Multi-Timeframe Confluence

Daily Chart View

On the daily chart, WIF is trapped below $0.2047 Resistance (score 73/100); 1D shows Bearish bias dominant with 2 Support/3 Resistance confluence. MACD histogram is expanding positively while RSI at 35 tests accumulation with hammer candles. Key inflection point is $0.1973 – holding here makes the daily structure Bullish, while breakdown opens the path to $0.1800. Multi-timeframe confluence interprets staying below 1D EMA20 as Downtrend continuation.

Weekly Chart View

From the weekly perspective, WIF is balanced at 2S/2R levels; $0.20 weekly low has been tested but close above $0.1973 is expected. Supertrend is Bearish, but volume delta is turning positive. A breakout above $0.2170 in the higher timeframe would signal a trend shift – confluence score is high (9 strong levels across TFs). For long-term traders, a weekly close above $0.2047 provides accumulation confirmation.

Critical Decision Points

Key levels determining direction: Major Support $0.1800 (68/100, multi-TF confluence), $0.1973 (63/100, volume POC). Resistances: $0.2047 (73/100, immediate hurdle), $0.2170 (66/100), $0.3425 (64/100, prior high). Upside objective $0.3042 (favorable R/R), downside risk $0.0916. Trend remains intact as long as $0.1800 holds; a breach accelerates downward momentum. Homepage for WIF and other analyses.

Weekly Strategy Recommendation

In the Bullish Case

Long position on $0.2047 breakout and weekly close above EMA20: Initial target $0.2170, extended $0.3042 (score 30/100). Stop-loss below $0.1973; R/R 1:3+. Wait for volume spike to confirm accumulation phase – for position traders, scale-in around $0.20 is ideal.

In the Bearish Case

Short on $0.1973 breakdown: Target $0.1800, ultimate $0.0916 (score 22/100). Stop above $0.2047. Distribution patterns emerging; downside accelerates with BTC correlation. Risk management: Max %2 position risk.

Bitcoin Correlation

WIF is highly correlated with BTC (altcoin beta ~1.5); BTC in Downtrend at $65,012, testing $64,323 Support with 24h -%4.27. BTC Supertrend Bearish and dominance increase pressures WIF – if BTC drops below $62,268, WIF $0.18 breakdown risk increases. Conversely, if BTC breaks $65,663 Resistance, WIF recovery is triggered; key BTC levels: Supports $64,323/$62,268/$60,000, Resistances $65,663/$68,193.

Conclusion: Key Points for the Upcoming Week

To watch next week: $0.1973-$0.2047 range break, BTC holding $64k, volume confirmation. Oversold RSI and MACD divergence offer recovery opportunity, but Downtrend structure requires caution. Position traders, wait for confluence – weekly close is critical for major move.