YFI
YFI resumes upward after possible completion of H&SYFI has made a good volume recovery. I will be waiting for the 8hr retest of the closest S/R line and a good resumption before going long. A safer entry would be the retest and resumption around the 21000 S/R line. It would also be above the EMAs at that point.
YFI 12500 or 11700? then 22300? Let see!so i don't see bullish market on YFI after last analysis! so we need go deeper to break RED trend AGAIN!
i think the last station YFI can stay on it is 11700 so keep eye on CHART as always we have GREEN AND BLUE way and i think green is going to happen!
thanks for reading let see what will happen 12500 or 11700? 11700 in my opinion
Good luck Guys! SEE my old YFI analysis! thanks
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%.
Catch the Falling YFI KnifeThis is very obviously a high-risk trade on a very young and volatile asset - proceed with caution. YFI is about to hit a support level - given the fact that this is the only historical support level around this price level in this young asset's life, there is a strong chance we'll see a little bounce. For the record - I am not entering this trade as it's too high risk. If you do trade this, watch it closely, use a stop loss, and GIGO (Get In GetOut). Enjoy!
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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