【$WIF Signal】Hold off on opening positions, wait for key support confirmation

$WIF Rejected at EMA20 after a rebound on the 4-hour chart, currently in a weak consolidation within a downtrend. Although the price has slightly rebounded, the overall structure remains suppressed by EMA20 (0.2157) and EMA50 (0.2286), with a clear downward daily trend.
🎯 Direction: Hold off
Market analysis: The 4-hour chart shows the price falling from a high of 0.2167 to close at 0.2129. The buy/sell ratio of 0.53 indicates buying attempts but insufficient strength. Depth imbalance is at 8.43%, with buy orders dominating, suggesting a willingness to support the price below. However, sell orders (0.2130-0.2140) are stacking up above, forming short-term resistance.
Logical core: Current conditions do not support a long position. 1) Trend-following failure: Price (0.2129) < EMA20 (0.2157), and OI trend is stable, indicating no capital inflow. 2) Not mature for a pullback buy-in: Price has not retested the key support near the previous low (around 0.2075), and RSI (41.67) has not sufficiently corrected toward 50 to stabilize.
Short position conditions are also not met. Funding rate is -0.0039%, negative, with stable OI, indicating a risk of short squeeze. Strictly avoid attempting to buy the top on the left side. Market logic suggests a decline, but data indicates more of a shakeout after a long squeeze rather than sustained selling by major players.
Trading plan: Wait for clear signals from price action. If the price can volume-breakout and hold above EMA20 (0.2157), with rising OI, consider trend-following long positions. If the price drops again, observe the key support near the previous low of 0.2075, combined with decreasing volume and RSI divergence, then reassess the opportunity for a pullback buy-in. The core risk management focus is to avoid blindly bottom-fishing in a downtrend.
Trade here 👇 $WIF
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