$YFI/USDT 3h (Binance Futures) Descending channel on midline
Updated
Yearn.finance is down-trending but supply zone seems to be holding and RSI is showing strength.
That's why expect it to break bullish even if that pennant is usually a bearish one!
Current Price= 27961
Buy Entry = 27995 - 27569
Take Profit= 29213 | 30672 | 31905
Stop Loss= 26633
Risk/Reward= 1:1.25 | 1:2.52 | 1:3.59
Expected Profit= +20.60% | +41.60% | +59.36%
Possible Loss= -16.56%
Fib. Retracement= 0.236 | 0.382 | 0.5
Margin Leverage= 4x
Estimated Gain-time= 1 week
That's why expect it to break bullish even if that pennant is usually a bearish one!
Current Price= 27961
Buy Entry = 27995 - 27569
Take Profit= 29213 | 30672 | 31905
Stop Loss= 26633
Risk/Reward= 1:1.25 | 1:2.52 | 1:3.59
Expected Profit= +20.60% | +41.60% | +59.36%
Possible Loss= -16.56%
Fib. Retracement= 0.236 | 0.382 | 0.5
Margin Leverage= 4x
Estimated Gain-time= 1 week
Trade closed: stop reached
SL hit with -16.56% (4x) and -1RYearn Finance broke-down, seems like it was a bearish pennant in the end.
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