YFI Ready For 400% Gains
Updated
Yearn Finance (YFI) had a convincing breakout today against bitcoin which could signal a new bullish cycle for the coming weeks/months ahead. As you can see on the chart the 0.6 level has been supported three times over the past months including a longer lasting rounding bottom, which signals accumulation and provides us with an ideal setup. A cup and handle pattern was formed against the 1.0 resistance level and the MA200 was being challenged for several weeks. This resistance zone broke today with good volume which means we can look to enter a long position.
PLAN:
Buy on retest of previous resistance level at 1.0
TP1: 1.6
TP2: 2.2
TP3: 3.0
TP4: 4.2
That's not all. The pair made a higher low compared to the previous one back in september which is a strongly bullish signal that could indicate a new all time high well above 4.2
Goodluck.
PLAN:
Buy on retest of previous resistance level at 1.0
TP1: 1.6
TP2: 2.2
TP3: 3.0
TP4: 4.2
That's not all. The pair made a higher low compared to the previous one back in september which is a strongly bullish signal that could indicate a new all time high well above 4.2
Goodluck.
Note
TP1 reached in less than 24 hours!
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