🔍 WIF/USDT NeoWave Analysis (Daily, Range-Based Chart)
Based on a range-based (constant range bar) chart, this analysis follows Glenn Neely’s NeoWave principles for identifying complex corrective and impulsive structures:
🌀 Wave Count Summary:
1. Initial Impulsive Wave (Wave A?)
Strong bullish movement with high volume around March–May.
Likely the start of a terminal pattern (e.g., Leading Diagonal or Expanding Triangle).
2. Prolonged Correction (Wave B?)
Large, noisy sideways correction through the summer.
Structure appears to be a complex correction (possibly WXY or WXYXZ).
3. Second Sharp Rally (Wave C or E?)
Intense bullish move in November, but quickly reversed.
Could be Wave C of a Flat or Wave E of an Expanding Triangle.
4. Final Drop (Wave C of Higher Degree)
Strong decline into February 2025, likely completing the entire corrective pattern.
Appears impulsive, suggesting a terminal wave.
5. Current Phase – Base Building
Price consolidating near historical support (~$0.65–$0.85).
Potential beginning of a new bullish cycle (Wave 1 or A forming).
📌 Key Levels:
Support Zone: $0.50–$0.65
Resistance Zone: $1.10–$1.30
Breakout above resistance with strong volume may confirm the start of a major bullish wave (Wave 3 or C).
📈 Bias: Accumulation and base-building phase with bullish breakout potential if resistance
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.