YFI-4h. Buyers have a chance to test $ 43,000.
A few steps were not enough for YFI buyers to test the historical high. After a grueling price consolidation at $30,000, buyers were able to set a new local high of $39,930.
Of course, this is good news. However, after 50 days of consolidation, buyers managed to grow by only 50%. If you look at the dynamics of YFI price growth from November 5 to 19, it becomes clear that buyers do not have enough strength for a new aggressive wave of growth.
The YFI price has tested the upper trend line of the wedge, in which the price has been trading since the beginning of November. Buyers are now trying to consolidate above the previous strong level of $30,000.
If buyers fail to break the $43,000 mark, the probability of a reversal of the growth trend and the test of the $20,800-22,000 range will increase significantly.
The global level that YFI holds remains unchanged at $18,000. Continuing the downward wave in the BTC market to the $26,000 mark will help YFI sellers test this mark. The situation is tense. You need to be extremely careful:
__________________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
Of course, this is good news. However, after 50 days of consolidation, buyers managed to grow by only 50%. If you look at the dynamics of YFI price growth from November 5 to 19, it becomes clear that buyers do not have enough strength for a new aggressive wave of growth.
The YFI price has tested the upper trend line of the wedge, in which the price has been trading since the beginning of November. Buyers are now trying to consolidate above the previous strong level of $30,000.
If buyers fail to break the $43,000 mark, the probability of a reversal of the growth trend and the test of the $20,800-22,000 range will increase significantly.
The global level that YFI holds remains unchanged at $18,000. Continuing the downward wave in the BTC market to the $26,000 mark will help YFI sellers test this mark. The situation is tense. You need to be extremely careful:
__________________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
🎁 -20% on ALL trading fees OKX
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.