Yearnfinance
Warning!!! It Can Be 90% More Drop Before The Next Bullish RallyHey friends hope you are well and welcome the new update on yearn.finance token.
On daily chart the priceline of YFI token has formed a perfect Head & Shoulder Pattern and broke down the neckline. The neckline was at $20K.
On small time period 4-hour chart the priceline was moving in a perfect uptrend. On 19 Sep the price action has broken down this uptrend-line and now it has established a downtrend and broke down all simple moving averages with the time period of 25, 50, 100 and 200 as well.
Now the price action of yearn.finance is forming different harmonic moves in USD and Bitcoin markets as below:
The harmonic move in US Dollar market:
The priceline of yearn.finance is completing the final leg of bullish Butterfly and soon it will be entered in potential reversal zone.
The targets as per the Fibonacci sequence of Butterfly are:
Potential reversal or buying zone: $11060 to $2044
Fibonacci projection or sell zone: $18058 to $34994
The harmonic move in Bitcoin market:
The priceline of yearn.finance ( YFI ) is completing the final leg of bullish Butterfly and soon it will be entered in potential reversal zone.
The targets as per the Fibonacci sequence of Butterfly are:
Potential reversal or buying zone: 1.1557 to 0.3215 btc
Fibonacci projection or sell zone: 1.8030 to 3.3728 btc
Conclusion:
As the priceline is expected to have more drastic drop in near future. But as the priceline is also completing final leg of bullish reversal moves therefore after completing this rally to the down side another rally to the upside can be expected that can be upto 1600%.
YFI - Technically and Fundamental AnalysisI seen YFI a Headstrong token As I Live with this token last 25 days- ever times you think we are on the pullback area, surprises us on goes to another support level Down.
Now , If RSI (7) cross up 50 level in 4H and have a pullback above RSI:50 , we will have start a bull trend.
But if goes down to next support level around 13000, will confirm the Head and Shoulder Pattern and I think we will have a range trend for Long - as like as sushi
An important notice is it that YFI is very impressible by BTC/ETH Movements
And look at the cross up MACD 4H- If we have a Continue on it the Bullish trend is 90%
on Fundamental we could see that the YFI Holders on Binance have a smooth level increase.
I will update this analysis.
Please fell free to comment and Discussion
Yearn Finance YFI - Parallel channel + Elliott waveTake a look at daily candles, as you can see - there is a bullish hammer right at the horizontal resistance support. Impulse Elliott wave completed and this channel looks like it wants to breakout.
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YFI - S/R Flip testLet's see how it goes. Was stopped out on the last one trade. Do not plan to open a new one until $12k (the next support) or above $21k.
To be bullish again it needs daily close above $21 at least. On the other hand, considering a small coin supply (this includes locked tokens in yGov, Vaults and other farms) it's kinda hard to predict the next move using TA only.
Hit the "LIKE" button and follow to support, thank you!
Information is just for educational purposes, never financial advice. Always do your own research.
Still Short YFIClosed 25% of my short position.
It would have been nice to see some divergence with the RSI and since it is not I am waiting till $15374 to close another 25%
I will then determine further action. I still see $12000 as a strong possibility.
Still not oversold on the day chart.
Have fun trading!
This is not financial advice.
YFII LONG INTRADAY SWINGon daily support. ocsillation and dots flashing. oversold. wide cpr indicates at the very least ranging. this may be the place. tight stops on L4 if not
Opening A YFI Short PositionWell it doesn't look too good for YFI currently.
The head and shoulder pattern has completed and it looks like it will take the price down for the next couple of weeks.
$16,600 is the first support I'm looking at. That head and shoulders is a nasty one and I would not be surprised if the YFI price dropped all the way down to $4,000. I have my marks on the chart.
Be careful with your holdings and as always, Have fun trading!
This is not financial advice.
YFI Descending Channel/WedgeYearn.Finance needs to break out at around 21k and hold that finding support around 21.6k as this was support a few weeks ago until we broke it. If we
don't break above above 21k within the next few hours, we are most likely going to see it fall down testing around the 18k levels and if we break that, then it will be going much lower.
YFIBTC completing final leg of Butterfly | It can be 900% moveThe priceline of yearn.finance ( YFI ) is completing the final leg of bullish Butterfly , the targets as per the Fibonacci sequence of Butterfly are:
Potential reversal or buying zone: 1.15570 to 0.32152 btc
Fibonacci projection or sell zone: 1.80300 to 3.37288 btc
Regards,
Atif Akbar (moon333)
YFI quick market updatePlease feel free to share your view on this pair down below in the comment section. I'm more than happy to be challenged and have an interaction on this idea.
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Head and Shoulders Forming on YFIChart is self explanatory. If it breaks out of the right shoulder and holds a few days, the pattern is invalidated. However if it breaks below the neckline and holds for 1-2 days, we are going to tank to the lower support. RSI is the only potentially positive thing which shows room to the upside, but could still fall through the floor. Not investment advise just archiving my thoughts.
One Way Out For YFII have mapped a way out for YFI head and shoulders pattern.
Make sure to check out my past posts linked at the bottom. If YFI can hold these levels, and does not break the neckline, then we could see some upward momentum.
I have drawn out one potential path here. It would also be a head and shoulders bottom.
Good luck trading!
This is not financial advice.
Yearn Finance YFI - Symmetrical triangleWe are currently in this symmetrical triangle, the price creates higher low => uptrend is intact.
The red trend line can be very useful in the future, because you can sell/short when the time comes.
Bottom trend line really should hold for smooth continuation of the trend to the upside. Else this symmetrical triangle can become an descending triangle, which is bearish.
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