Get started

Yfibuy

Reversal in progress how far will it go?The current situation: 1. On the 12HR chart, price action has formed an inverse head and shoulders with a measured target of 33K USD. Currently, it is at about 30.3K and price action has formed an ascending triangle with a measured target of almost 33K as well. The 0.5 Fib level is currently seen as resistance as there is no other major moving averages above the price action. 2. On the 12HR chart, it is also apparent that buyer volume is still increasing with higher price action. This is a good sign that buyer strength has not slowed down yet and higher price action is possible. 3. Some pretty high readings on the 1HR and 4HR RSI as their last high was close to or above 70. This should be paid attention to as bearish divergence is possible and can prompt a pullback. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
COINBASE:YFIUSDLong
by CryptoRush_
7
YFI | breaking the bullish canal downwards, and consolidatingYFI has broken the bullish canal that it has been. This is a big sell sign. However, since it is holding onto the support level below the canal so far, this breakout can be a fake one. In the case of YFI holding onto this support level, it is likely that it will go back to the bullish canal and make a new higher high. The current level is also a strong Fibonacci level, making this support level even more valuable. In the case of this support line braking downwards, the analysis will be very bearish.
Long
by knnhsn
5