Dear All,
I am sharing my personal prospective analysis for YFI/USDT on the long term run
I could see that the last trend has been broken upside indicating a bullish upward trend that might need more volatility and volume to start parabolic rise toward ATH
In the chart I have set three ATH horizontal line for highest high appeared in chart pattern (Head and shoulders) indicating (Highest High in Left shoulder, Highest High in Head and Highest high in Right shoulder).
Referring back to the previous ATH that was created in an Head & Shoulder chart pattern between the dates (29-Aug-2020 and 5-Nov-2020) I could say that we will see something similar to current rally and it might take few weeks to enjoy it. To make it more visualized and easier for you i have taken Bars Pattern for the same dates and move it right on the first two candles since they broken the trend-line (Marked in Green Bar candles).
To confirm movement of price upward i have used Fibonacci Retracement to indicate the price movements toward the following targets only if the daily candle closed above price ($31,781.41) were the heading price range would be targeting R1 $(40,073.62), R2 $(53,493.06), R3 $(66,912.50), R4 $(75,205.72)
In Summary we might see price heading initial maximum price range toward Fib. Retrac. Level @1.618 and trend will move to a bearish zone that will reverse maximum price range toward Fib. Retrac. Level @0.50-0.618 between ($25070.69 - $28908.65) marked with Red Price Label that will be entry point for bull run toward ATH resistance ($43,966) that once breakout will create New ATH at Fib. Retrace. @2.618 = and then keep watching (Volume, MA, RSI) to confirm price movement toward next bull run targets R3 $(66,912.50), R4 $(75,205.72).
Trade Safe, ensure you've your own study and targets before you jumped in.
N.B. This is not a financial advise. The movements of YFI are dependant on the BTC and ETH in terms of dumping so you can watch them parallel as well. Personally with YFI/USDT short time frame trading aren't best choice so ensure you enter on lowest price range on bearish zone as that would be only long term investment in such coin. When the price is in the bull run set your personal target for Sell according to your study. Remember once you enter don't forget the Stop-loss just in case any negative news happened.
Wish you all the best.
I am sharing my personal prospective analysis for YFI/USDT on the long term run
I could see that the last trend has been broken upside indicating a bullish upward trend that might need more volatility and volume to start parabolic rise toward ATH
In the chart I have set three ATH horizontal line for highest high appeared in chart pattern (Head and shoulders) indicating (Highest High in Left shoulder, Highest High in Head and Highest high in Right shoulder).
Referring back to the previous ATH that was created in an Head & Shoulder chart pattern between the dates (29-Aug-2020 and 5-Nov-2020) I could say that we will see something similar to current rally and it might take few weeks to enjoy it. To make it more visualized and easier for you i have taken Bars Pattern for the same dates and move it right on the first two candles since they broken the trend-line (Marked in Green Bar candles).
To confirm movement of price upward i have used Fibonacci Retracement to indicate the price movements toward the following targets only if the daily candle closed above price ($31,781.41) were the heading price range would be targeting R1 $(40,073.62), R2 $(53,493.06), R3 $(66,912.50), R4 $(75,205.72)
In Summary we might see price heading initial maximum price range toward Fib. Retrac. Level @1.618 and trend will move to a bearish zone that will reverse maximum price range toward Fib. Retrac. Level @0.50-0.618 between ($25070.69 - $28908.65) marked with Red Price Label that will be entry point for bull run toward ATH resistance ($43,966) that once breakout will create New ATH at Fib. Retrace. @2.618 = and then keep watching (Volume, MA, RSI) to confirm price movement toward next bull run targets R3 $(66,912.50), R4 $(75,205.72).
Trade Safe, ensure you've your own study and targets before you jumped in.
N.B. This is not a financial advise. The movements of YFI are dependant on the BTC and ETH in terms of dumping so you can watch them parallel as well. Personally with YFI/USDT short time frame trading aren't best choice so ensure you enter on lowest price range on bearish zone as that would be only long term investment in such coin. When the price is in the bull run set your personal target for Sell according to your study. Remember once you enter don't forget the Stop-loss just in case any negative news happened.
Wish you all the best.
Trade active:
After Breakout >52% Target has been achieved at $39,993.23
We might see 8-9 topping nearby the previous high of $39,993.23 and we might then see new higher high > $40,000.00 after few consolidation zone before next breakout.
Good Luck.
After Breakout >52% Target has been achieved at $39,993.23
We might see 8-9 topping nearby the previous high of $39,993.23 and we might then see new higher high > $40,000.00 after few consolidation zone before next breakout.
Good Luck.
Trade active:
As previous shared update on Jan 15th 2021: Yesterday we had a great nice touch toward a higher high at $40,333.87. I have mentioned in my main topic that our first target would be targeting R1 ($40,073.62) which we did and trend goes beyond that target already yesterday. Now we're going to the next target R2 ($53,493.06) which most of the TA/ people are talking about it BUT before we proceed to R2 you need to know the following:
- Chart Pattern forms: Ascending Triangle on Daily Time Frame
- Breakage of triangle: Will be heading towards new ATH which yields 40.35%
- Time Expected: 2-4 weeks (not accurate)
- Current trend: Testing previous high and then a correction between price range ($32,594.62 - 34,327.94) marked with price label on chart.
- Indicator: Used MACD & RSI where the RSI shows a divergence that clearly seen in the chart between two previous higher high prices ($39,993.23 and $40,333.87) we should have strategy plan here dependent on each trader so its quite difficult to role out a best one to all traders.
Summary: A correction will take place between previously mentioned price levels and then the price will consolidates for few days also for accumlation and second wave bull run will begin we need to watch the closure for the body of the candle above R1 target price level as we will only then break ascending triangle reaching toward new ATH priced at previously mentioned R2 price level ($53,493.06). If this rally were faster it might takes 1-2 weeks if its not the case it might takes 2-4 weeks. In both cases its long term investment.
In case you missed to jump in from beginning you need to make your own plan/ study first and previously mentioned price correction levels might help you out.
Trade Safe.
As previous shared update on Jan 15th 2021: Yesterday we had a great nice touch toward a higher high at $40,333.87. I have mentioned in my main topic that our first target would be targeting R1 ($40,073.62) which we did and trend goes beyond that target already yesterday. Now we're going to the next target R2 ($53,493.06) which most of the TA/ people are talking about it BUT before we proceed to R2 you need to know the following:
- Chart Pattern forms: Ascending Triangle on Daily Time Frame
- Breakage of triangle: Will be heading towards new ATH which yields 40.35%
- Time Expected: 2-4 weeks (not accurate)
- Current trend: Testing previous high and then a correction between price range ($32,594.62 - 34,327.94) marked with price label on chart.
- Indicator: Used MACD & RSI where the RSI shows a divergence that clearly seen in the chart between two previous higher high prices ($39,993.23 and $40,333.87) we should have strategy plan here dependent on each trader so its quite difficult to role out a best one to all traders.
Summary: A correction will take place between previously mentioned price levels and then the price will consolidates for few days also for accumlation and second wave bull run will begin we need to watch the closure for the body of the candle above R1 target price level as we will only then break ascending triangle reaching toward new ATH priced at previously mentioned R2 price level ($53,493.06). If this rally were faster it might takes 1-2 weeks if its not the case it might takes 2-4 weeks. In both cases its long term investment.
In case you missed to jump in from beginning you need to make your own plan/ study first and previously mentioned price correction levels might help you out.
Trade Safe.
Dear traders, today we have reached our latest target that were discussed in original post and latest updates.
According the snapshot uploaded here we can confirm the following targets as elaborated in our post:
16-APR-2021 => R2 TARGET PRICE REACHED ON DAILY CANDLE CLOSED AT $53,500.00
11-MAY-2021 => R3 & R4 TARGET PRICE REACHED ON DAILY CANDLE AT $66,912.50 AND CROSSED R4 TARGET PRICE AT $75,205.72 BY ($+2,944.28 AS WRITING THE UPDATED POST)
OBSERVATION:
THIS COIN AND INVESTMENT ITS DEFINITLY A LONG TERM INVESTMENT NOT MINIMUM THAT 3-MONTHS TO LOOK FOR GAIN EQUAL OR MORE THAN 35-50%.
TRADE STATUS:
CURRENTLY, ALL TARGET REACHED AND TRADE ARE CLOSED. TAKE CARE