YFI important momentGreetings
amid the rise of the major cryptocurrencies, the defi hype has declined. And all eyes are on ether and bitcoin.
I suggest to look at YFI once again to evaluate its global prospects for next 3-6 months, as the past idea is relevant but for more local work
Total return on the idea with updates around 140%.
Let's have a look at the daily chart first,
we can see that price has formed a larger symmetrical triangle, with a base of 800%. The price is now at the upper boundary of the triangle. Although there is still a long way to the apex and it is possible that the price will return for another spiral to the lower boundary of the triangle.
Also worth considering a possible repetition of the head and shoulders fractal, this bearish pattern has formed quite clearly at the moment.
The next chart for the analysis of 4 hours, on which the upward channel was formed, and the local figure of the falling wedge. For the continuation of the movement in the channel, the price is hindered and cornered by the trendline of the main triangle.
Operating options
1. Breaking through a triangle
2. trade inside the triangle from the boundaries when the local trend develops.
Always use stop loss, and do not use trading leverage greater than x3.
A trader should always have tomorrow.
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