WIF/USDT NeoWave Analysis (Daily, Range-Based Chart)

🔍 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