$YFII/BTC 1D (Binance Spot) Descending trendline break & retest
Updated
DFi.Money is looking bottomed here, I expect it to reverse for mid-term.
Current Price= 0.05027
Buy Entry= 0.05072 - 0.04654
Take Profit= 0.06937 | 0.09592 | 0.12467
Stop Loss= 0.03609
Risk/Reward= 1:1.6 | 1:3.65 | 1:5.88
Expected Profit= +42.65% | +97.24% | +156.36%
Possible Loss= -26.61%
Fib. Retracement= 0.236 | 0.382 | 0.5
Margin Leverage= 1x
Estimated Gain-time= 2 months
Current Price= 0.05027
Buy Entry= 0.05072 - 0.04654
Take Profit= 0.06937 | 0.09592 | 0.12467
Stop Loss= 0.03609
Risk/Reward= 1:1.6 | 1:3.65 | 1:5.88
Expected Profit= +42.65% | +97.24% | +156.36%
Possible Loss= -26.61%
Fib. Retracement= 0.236 | 0.382 | 0.5
Margin Leverage= 1x
Estimated Gain-time= 2 months
Trade active
All entries filledLooks like DFI.Money was not bottomed yet and a last LL (Lower Low) was due.
Now it's back above the TL (Trend Line) support so we are still good to go IMO (In My Opinion)!
Note
Support held and started to move upDFI.money is slowly consolidating and showing some reversal signs here!
Trade closed: stop reached
SL hit with -25.79% (1x) and -1RDFi Money crossed the descending Trendline and stopped us out, too bad 😖
For some reason the SL I used in the chart was a bit lower (0.03569₿) so you can stick to that one.
But it is highly probable that you would be stop hunted anyway.
I guess the timing was not good, I am still positive for mid-term and will try to enter again another day!
Note
New set-up:
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