As of May 22, 2026, WGMI (Valkyrie Bitcoin Miners ETF) is in a uptrend state on the daily chart, with a confidence level of 74%. Key support is at $55.5 and key resistance at $64.5. Strong impulsive advance to ~$61.93 with price above all key MAs; EMA50 (pink) rising and acting as dynamic support; RSI-14 ~66 (bullish momentum, not extreme).
Bull continuation: brief consolidation or pullback into the $56–$58 area (prior breakout/EMA20) then push to retest the prior supply zone and extend higher; Elliott Wave view: this looks like a wave (3) / (C) style impulse from the ~$33 low, with room for a smaller wave 4 pullback before another leg up.
Deeper pullback: failure to clear/hold $64.50 leads to a mean-reversion move toward the rising EMA50 and the prior base; Fibonacci-style retrace of the ~$33→$62 leg often pulls back ~38.2% (~$51) or ~50% (~$47.5) before trend decision.
Daily close above $64.50 followed by another close holding above $64.50
Daily close below $55.50 (loss of the ~EMA20 $55.56 / recent breakout support)
Buy-the-dip zones mapped to EMA20/structure support ($56–$58), then EMA50 ($~50) and EMA100/MA-cluster ($~46–$48) if a larger retrace plays out.
Trim into extensions above prior highs ($~64–$68) and likely fib extensions; progressively de-risk as price stretches far above EMA50/100 and momentum becomes overextended versus the current base.
As of May 22, 2026, WGMI (Valkyrie Bitcoin Miners ETF) is in a uptrend state on the daily chart with 74% confidence. Strong impulsive advance to ~$61.93 with price above all key MAs; EMA50 (pink) rising and acting as dynamic support; RSI-14 ~66 (bullish momentum, not extreme).
On the daily timeframe, WGMI has key support at $55.5 and key resistance at $64.5. The most likely scenario (bullish) targets $64.5 and $67.5, with a revert level at $57.5.
WGMI (Valkyrie Bitcoin Miners ETF) is currently classified as uptrend on the daily chart, with 74% confidence. Confirmation requires: Daily close above $64.50 followed by another close holding above $64.50 This would be invalidated by: Daily close below $55.50 (loss of the ~EMA20 $55.56 / recent breakout support)
The most likely scenario (bullish) targets $64.5 and $67.5, with a revert level at $57.5. The alternative scenario (bearish) targets $50.0 and $46.5.
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