YFI - 12h. Update of the historical high and correction to 33000

11 Feb 2021

After the update of the historical high, the BTC price stop had a positive effect on the YFI market. Yesterday's attempt by BTC sellers to start the correction did not greatly affect the price of YFI. On the contrary, buyers today have managed to update the historical high and show their willingness to continue the price movement in the white wedge.

From November 19, buyers can not break the upper trend line of the wedge. Buyers broke the mark of $ 40,000 and tested an important range of $46,500-48500. There will be a serious struggle in this critical range, as the next medium-term price movement will be decided.

If buyers are unable to break through this range, there is a risk of starting a global correction with a final target of $21000-22000. The first stop is at $33,000

Otherwise, the growth trend will accelerate.
____________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!