$YFI - Head and shoulders pattern
I spotted this and then clicked onto Twitter to see that every moron has seen the same thing.
Argument for:
YFI is on a support line that's been tested a few times now so buyers must be getting fatigued at this point. More than the pattern, that makes me think we could see a drop to the support below.
This just happens to track with another support further down that was established prior.
Argument against:
It's always important to remember that crypto is a manipulated market, and being part of a crowded trade (especially in the short-term) isn't always a brilliant place to be.
My verdict:
Most likely, further downside. I'm not inYFI right now, instead building a position on CORE.
Argument for:
YFI is on a support line that's been tested a few times now so buyers must be getting fatigued at this point. More than the pattern, that makes me think we could see a drop to the support below.This just happens to track with another support further down that was established prior.
Argument against:
It's always important to remember that crypto is a manipulated market, and being part of a crowded trade (especially in the short-term) isn't always a brilliant place to be.
My verdict:
Most likely, further downside. I'm not in
YFI right now, instead building a position on CORE.Catatan
Neckline broken, road to nearest support has begun.Trading ditutup: target tercapai
Pretty much went exactly as anticipated.
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.