BTC CRASHED THE YFII BREAKOUT... NOW WE TAKE THE LONG WAY UP
In the last 2 Charts I published, YFII was in a decending Wedge for about 7 Days.
There was an attempted breakout, but due to the mini BTC selloff it left all the De-fi coins bruised and battered, including YFI and YFII.
So now I have studied and analysed the previous wave which took 11 Days from top to bottom to top again.
Looking further, we can see there was also a attempted breakout on the first wave down, almost in the same position of this attempted breakout. This gives us more confidence YFII want's to go back to the top.
This wave looks to be taking longer, if we examine the angle of descent compared to the first wave, this wave could take another 9-11 days to play out.
BUT....going by the bullish signs YFII is showing, we could get there in the next 5-6 Days
There was an attempted breakout, but due to the mini BTC selloff it left all the De-fi coins bruised and battered, including YFI and YFII.
So now I have studied and analysed the previous wave which took 11 Days from top to bottom to top again.
Looking further, we can see there was also a attempted breakout on the first wave down, almost in the same position of this attempted breakout. This gives us more confidence YFII want's to go back to the top.
This wave looks to be taking longer, if we examine the angle of descent compared to the first wave, this wave could take another 9-11 days to play out.
BUT....going by the bullish signs YFII is showing, we could get there in the next 5-6 Days
Trade active:
Its been a very profitable day for all who got in early...Well done !!
This chart is playing like a magnet all day, YFII pulls away and retracts back.
I expect the first wave to finish soon, before a pullback and then a continuation onto the second wave.
Trade safe. YFII can move very fast in any direction, as we have seen today. If you are leveraged, monitor your positions carefully and adjust your stop loss or use a trailing stop loss.
This chart is playing like a magnet all day, YFII pulls away and retracts back.
I expect the first wave to finish soon, before a pullback and then a continuation onto the second wave.
Trade safe. YFII can move very fast in any direction, as we have seen today. If you are leveraged, monitor your positions carefully and adjust your stop loss or use a trailing stop loss.
Comment:
Get ready for Wave 3, This should take us into the 5k range
