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Decentralizedfinance

$YFI/USDT 3h (Binance Futures) Descending channel on midlineYearn.finance is down-trending but supply zone seems to be holding and RSI is showing strength. That's why expect it to break bullish even if that pennant is usually a bearish one! Current Price= 27961 Buy Entry = 27995 - 27569 Take Profit= 29213 | 30672 | 31905 Stop Loss= 26633 Risk/Reward= 1:1.25 | 1:2.52 | 1:3.59 Expected Profit= +20.60% | +41.60% | +59.36% Possible Loss= -16.56% Fib. Retracement= 0.236 | 0.382 | 0.5 Margin Leverage= 4x Estimated Gain-time= 1 week
Long
by TradingOn
1
BTC - When in Doubt Zoom OUT 2013 - 2021 ChannelBTC's entire history channel path reveals some very interesting details when looking further into the chart. First - notice that we are retesting the very heartline of the entire channel - a necessary retracement condition to continue the bullrun. In the 2017 Bullrun we tested the heartline in Sept. in a very similar fashion - a large dump and then a recovery that recaptures the previous local high w/in 21 days. Another very similar selloff during a bear market was the March 2020 Corona Dump where bitcoin fell significantly (>50%), but then w/in 7 days was up significantly from the bottom and recovered the pre-COVID local high w/in 57 days. Notice it took longer, 57 days versus 21 days, imo b/c of the bear market factor - it takes prices longer to recover depending on whether you're in a bull or bear market. Lastly, notice similar to the 2013 market, BTC's price fell below the 21 Week EMA and even closed below it before recovering and then moving onwards to a new ATH by end of November / early December. Notice, you can see the cycle end top goes through the roof of the channel in a "blow off top fashion" before crashing down. I believe we are in a very similar pattern as the Sept 2017 selloff which tested the heartline. We are clearly in bearish momentum and need to regain bullish structure but I do not think for a min. this is the end of the bull market and you can clearly see this when you zoom out and look at BTC's entire price curve using this simple channel analysis.
BITFINEX:BTCUSDLong
by ich1baN
16
zoom out! pt 2Last seen on the weekly support and resistance lines, the previous all the high area is a crucial point right now. We’re currently swimming in those waters, and whether or not this area serves as support or resistance is the waves we’re watching closely. So far today, we’re staying above. Let’s hope it stays that way! Here on the 1D chart, we see the 200 eRMA overall trend line has been touched. As long as we bounce upwards, combined with the previous ATH flipping to support, AND that technical analysis combined with more FA/news like upcoming changes to Ethereum 2.0/EIP 1559 and energy conservation? DTH actually may look good.
BITSTAMP:ETHUSDLong
by apaininthecass
COMP Fib Targets PT1 $622 PT2 $728COMP is just doing a simple retracement and it made it all the way to the 100% retracement zone. Now we can expect an impulse higher with BTC stabilizing. Next PTs for COMP using the 4 hour swing low and swing high points are as follows. PT1: $622 PT2: $728 Will follow a trajectory similar to the orange line I posted. Once we take these two price targets by end of May, we can then target ATHs again by mid-June imho. Bonus: COMP has performed flawlessly in the selloff - many expected DeFi projects to get totally destroyed in the selloffs considering they rely on automation and specific price reference algorithms to a large degree - COMP performed well and their $14B TVL is still completely in tact. Also COMP did print a Hash Ribbons BUY signal on the 17th... this is massively bullish for the project and means there is imminent upside ahead.
Long
by ich1baN
4
COMP: Hash Ribbons BUY Signal Formed! PT $2,236After blood has been in the street, several altcoins have triggered Hash Ribbons Buy signals (and BTC is about to print one which has never occurred in the history of BTC DURING a bull market). COMP is one of the first to trigger this buy signal which suggests it will also be one of the first to reach its ATH before other altcoins and then some. LINK just triggered one as well. If we extrapolate the last buy signal percentage gained of 344%, this would put COMP at $2,236 which I think would occur in less time as the bull market is fully underway rn. Also with $14B of total value locked and growing and only a $2.2B market cap ... COMP is still strongly undervalued imho. DeFi is here to stay and will only accelerate in terms of adoption in the coming weeks / months. Other altcoins that are about to trigger a Hash Ribbons buy signal: FTM, FET, XRP, RAMP, ONT, UNI
Long
by ich1baN
6