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Today’s report will include:

DOGWIFHAT Technical Analysis
Market Psychology
Trading Tools

DOGWIFHAT Lower Trading Range

DOGWIFHAT has been in a relentless down-trend on the weekly time-frame, smashing through high time-frame support levels like nothing. Price action is now trading inside a lower range where another rotation towards the downside is probable.

Points to consider,

Single Print Candle
$0.34 Support Level
$1.39 Resistance Level
POC Volume Resistance

The most key resistance price point for WIFUSDT is $1.39, price action has closed below this level on the weekly time-frame - signifying continue weakness. The following weekly candle retested the level for it to only to end with a wick rejection.

WIFUSDT’s next support level is situated at $0.34, this is at the base of the exposed Single Print candle which has a statistical probability of being tested and/or filled. In doing so, this will increase the probability of price action trading towards lower support in a rotational range.

Overall, WIFUSDT is showing continued weakness, price action is trading below major resistance levels, this includes the Point of Control. Lower prices are to be expected if resistance levels remain the same.

Hope this analysis helps.

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