VIP MARKET UPDATE: $WLFI
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$WLFI is trading around the 0.0724 area, grinding along the lower boundary of the descending channel that has been guiding price steadily lower since February with no meaningful attempt to break out. The structure has been relentless, with every recovery getting capped by the upper channel band and price continuing to print lower highs and lower lows. The recent acceleration to the downside from the 0.1020 area has been particularly aggressive, leaving very little room above the lower channel boundary where price now sits.
As long as WLFI stays below the upper channel resistance and the 0.0810 area, the bias remains firmly bearish and any bounce is simply a selling opportunity within a broken structure. A loss of the lower channel boundary would accelerate the downside further, while only a clean break above the descending resistance would begin to change the narrative in favor of the bulls.
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