YFI has been the talk of the crypto ecosystem ever since its launch on Binance and the mega run towards 40,000 USD. It started looking like the next BTC.
It formed a Head and Shoulder Pattern on the daily TF but failed to bounce back from the base and ended up losing it support at 20k USD to drop down to its previous support of 12.5 k area.
Currently it is playing between the support and resistance of 12.5k and 20k. For swing traders, a very good Long will be from 12.5 k with a SL just below this support and you can eye to take profits around 20k. If we can manage to flip 20k to support, this can proceed with its next massive bull run towards 30k , 35k and then beyond the previous resistance of 40k.
Loosing the support of 12.5 k could be catastrophic for this coin since there is absolutely no support below.
It formed a Head and Shoulder Pattern on the daily TF but failed to bounce back from the base and ended up losing it support at 20k USD to drop down to its previous support of 12.5 k area.
Currently it is playing between the support and resistance of 12.5k and 20k. For swing traders, a very good Long will be from 12.5 k with a SL just below this support and you can eye to take profits around 20k. If we can manage to flip 20k to support, this can proceed with its next massive bull run towards 30k , 35k and then beyond the previous resistance of 40k.
Loosing the support of 12.5 k could be catastrophic for this coin since there is absolutely no support below.
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