YFI (& ALTCOINS) SHORT Hello, YFI is a great project, definitively the first alt I will want in my ptf once the storm has passed. BUT, now alts are suffering, and DeFi coins even more as, despite other alts, they were in a bubble. All defis are experiencing falls of 60%+ and in some cases even 90%.
The difficult part is that defi coins do not have a significant history, so there are not many supports/resistences to base an analysis on.
However, YFI charts shows a H&S that signal that the fall is not over yet. Also, we were rejected from the Fibo retracement area, meaning than this is not a simple retrace.
I traced a vertical line to show where the target based on pure TA would be, even if with crypto this has to be taken with caution as as this kind of target are usually unreliable due to prior parabolic rises. However, I traced 3 possible targets on the chart. I will wait YFI there to accumulate.
