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YFI is in a bullish triangle but as it goes out of the triangle, it can experience higher prices provided it can go past the resistances on its way.
The other possibility would be that it will start ranging inside this triangle and then resume its uptrend.
If the price goes out of the...
. There is a possibility of temporary retracement to suggested support line (40056.5). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. YFIUSDT is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support....
The asset came close to the resistance at the level of the previous local maximum. At the same time on the 4-hour timeframe chart is forming an ascending triangle. Since the YFI is in a clear uptrend, this pattern usually indicates a continuation of the bullish movement. Before the final upward impulse, a pullback to the bottom of the triangle is likely to occur,...
YFI brokeout as expected from my previous analysis.
Price is testing the projected ascending channel resistance.
RSI is printing a bearish divergence signal.
Price action is printing a rising wedge pattern.
Sell entry ⬇️ - breakdown below the rising wedge support.
Targets 🎯 - flip horizontal support / fibonacci retracement levels / ascending channel...