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YFIUSD trade ideas

Short term bearish if THIS level breaksThe current situation: 1. Since the reversal, price action has reversed and got rejected at about the 0.618 Fib level and has not been able to close back up above the the 0.5 Fib level at about 32K. Currently, a head and shoulders pattern is apparent on the hourly chart. Breaking the neckline at about 28.6K will indicate the bearish pattern is playing out and the measured target is at about 23K. Do mind that the measured target may or may not be reached. 2. Daily candle does currently signal strong seller strength with with high volume, seeing how today's candle closes will be important. The bullish case: price action does need at least an hourly close above the 0.5 Fib level at about 32K to negate the head and shoulders pattern. The bearish case: price action breaks down below the neckline, under which there are still quite a few moving averages acting as support and may or may not on one of them. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
COINBASE:YFIUSDShort
by CryptoRush_
Laddering my shorts on $YFI: Bearish retest After giving an impressive rally in the last couple of days, it looks like, YFI may do a bearish retest on the larger timeframe. I took a small scalp and sold for a 4% gain today, but currently, I'm laddering my shorts till the 32k zone. Though market is choppy, and anything can happen, it is always better to play with proper position sizing and risk management! :) Time will tell if this simple setup is correct or wrong. As of now, I personally do not see any major reason (other than the Defi hype, which may soon die out) to take long here. I'll update targets soon, stay tuned :)
BINANCE:YFIUSDShort
by Retail_Insider
4
yearn.finance (YFI) - September 27Hello? Dear traders, nice to meet you. "Like" is a huge force for me. By "following" you can always get new information quickly. Thank you for always supporting me. -------------------------------------------------- ----- You need to make sure you can get support at point 31836.97320. If it falls, we need to make sure it is supported at 27324.97824. If you fall from the uptrend line (1), I think you need to trade to preserve profit and loss. It remains to be seen if it can rise above 39898.86000 points around October 1. Every support and resistance point or segment is very weak, so we think careful trading is necessary. Therefore, new investments are not recommended. It is expected that if you check the flow with interest as a coin belonging to the side with a large volume of DeFi coins, it is expected that it will be helpful in understanding the flow of the coin market, so it was posted. -------------------------------------------------- ----- (OKEX YFIUSDT 1D Chart) We have to see if we can sideways on the 28908.8-32585.1 section. It remains to be seen if it falls below the 27658.9 point around October 2. We also need to see if we get support at 27658.9 and move up the short-term uptrend line. -------------------------------------------------- ------------------------------------------- I think it is the period of volatility from September 21st to October 1st. Therefore, I think careful trading is necessary. ** Check support, resistance, and abbreviation points. ** Support or resistance is based on the closing price of the 1D chart. ** All explanations are for reference only and do not guarantee profit or loss on investment. Explanation of abbreviations displayed on the chart R: A point or section of resistance that requires a response to preserve profits S-L: Stop-Loss point or section S: A point or segment that can be bought for generating profit as a support point or segment (Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)
BINANCE:YFIUSD
by readCrypto
2
Reversal in progress how far will it go?The current situation: 1. On the 12HR chart, price action has formed an inverse head and shoulders with a measured target of 33K USD. Currently, it is at about 30.3K and price action has formed an ascending triangle with a measured target of almost 33K as well. The 0.5 Fib level is currently seen as resistance as there is no other major moving averages above the price action. 2. On the 12HR chart, it is also apparent that buyer volume is still increasing with higher price action. This is a good sign that buyer strength has not slowed down yet and higher price action is possible. 3. Some pretty high readings on the 1HR and 4HR RSI as their last high was close to or above 70. This should be paid attention to as bearish divergence is possible and can prompt a pullback. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
COINBASE:YFIUSDLong
by CryptoRush_
7
YFI - SolidLiking YFII for a mid to longer term play. Sources suggest strong institutional involvement gearing up. Technicals above showing bullish momentum off support in the low 20k region. Directional indicator is a great way to time entry exits on this play. What is yearn.finance? yearn.finance is a decentralized ecosystem of aggregators that utilize lending services such as Aave, Compound, Dydx, and Fulcrum to optimize your token lending. When you deposit your tokens to yearn.finance, they are converted to yTokens, which are periodically rebalanced to choose the most profitable lending service(s). Curve.fi is a prominent integrator of yTokens - creating an AMM (Automated Market Maker) between yDAI, yUSDC, yUSDT, yTUSD that not only earns the lending fees but also the trading fees on Curve.fi. YFI, yearn.finance's governance token, is distributed only to users who provide liquidity with certain yTokens. With no pre-mine, pre-sale, or allocation to the team, YFI strives to be the most decentralized token. Although most of the ecosystem was built by Andre Cronje, control of YFI was transferred to a multi-signature wallet, which requires 6 out of 9 participants to agree on changes. As a truly decentralized protocol, any changes to the yearn.finance ecosystem are always done via on-chain proposals and voting.
BINANCE:YFIUSDLong
by ralis24
1
Yearn.finance Technical Analysis: YFI rebound to $25,000 remains Yearn.finance refreshes support at $20,000 but rebounds towards $22,000. On-chain data predicts increased selling pressure towards $25,000. Yearn.finance saw the rebound predicted at the beginning of the week invalidated after failing to close above the 50 Simple Moving Average (SMA) in the 4-hour range. The rebound came into the picture following the formation of a double-bottom pattern. Support at $22,000 failed to hold, paving the way for declines that later tested the next demand zone at $20,000. Meanwhile, a shallow recovery has pulled YFI above $21,000 and could retake the support at $22,000 anytime soon. Yearn.finance is trading within a parallel descending channel, whose support has been instrumental in keeping the bears in check. On the upside, a breakout is expected to come into the picture, especially if the recovery continues above $24,000. The ongoing momentum is highlighted by the Relative Strength Index (RSI). The indicator shows how strong a particular trend is (either up or down) and whether an asset is overbought or oversold. If the RSI sustains upward movement beyond 40 and towards the midline, more buyers would be encouraged to join the market and capitalize on the expected breakout from the descending channel. According to IntoTheBlock’s IOMAP, the path ahead of YFI is not a walk in the park. Particularly, the toughest resistance zone lies between $23,978 and $24,659. The model highlights that 64 addresses previously purchased 1,930 YFI in the range. On the downside, it essential for traders to be aware of the lack of a formidable support area. The zone between $20,064 and $19,383 remains to be the most significant support. Here, 197 addresses previously bought around 65 YFI tokens. With that in mind, we can tell that losses are not out of the picture and it is important to proceed with caution. YFI Intraday Levels Spot rate: 21,900 Percentage change: 3.57% Relative change: 776 Trend: Bullish Volatility: Expanding
BINANCE:YFIUSD
by CoinGape
1
Yearn.finance Price Prediction: YFI Has A Clear Path To $40,000 Yearn.finance freefalls to $21,455 after support at $28,000 failed to hold. YFI turns bullish bringing into the picture the impact of a double-bottom pattern. Yearn.finance is bleeding, just like many other cryptocurrencies in the market on Tuesday. A bearish wave on Monday swept across the market, further increasing the sell signals that have continued to linger in the last couple of weeks. Note that YFI traded all-time highs of $44,000 before embarking on a gains-trimming exercise. There have been multiple attempts to keep the DeFi token above $30,000 but selling pressure was just too great for the bulls to bear. The most expensive cryptoasset hit below other tentative support areas including $28,000 and $24,000. The last blow on Monday extended the bearish leg toward $20,000 but a weekly low was traded at $21,455. At the time of writing, YFI has resumed the uptrend and is trading above $24,000. The gains come following the impact of a double bottom pattern. This pattern is used in technical analysis to identify strong demand zones where a reversal is likely to begin following an extended breakdown. Double-bottom patterns tend to provide an estimated target to the upside. In this case, Yearn.finance is likely to rally above $30,000 and even draw closer to the critical $40,000 level. Its bullish case is supported by the Relative Strength Index (RSI) as it recovers above the oversold. In addition, IntoTheBlock IOMAP shows that the path to the north is relatively smooth but a strong resistance should be expected at $27,169 - $27,893. On the flip side, support is not strong enough, hence the chances of YFI retuning to $20,000 remain high. Therefore, buyers must work the bullish case through to avoid a devastating slide to levels around $20,000. Yearn.finance Intraday Levels Spot rate: $24,715 Relative change: 770 Percentage change: 3.30% Trend: Bullish Volatility: Expanding
BINANCE:YFIUSDLong
by CoinGape
2
PonziI finally looked into this defi craze to see what the heck is so special. So apparently some fatbody neckbeards came up with a scam. And would you believe it, stupid poor people are pouring their money into it. This is how it works: Smart contracts on ETH are enabling "decentralized" exchanges to airdrop new coins to people that loan the exchange real coins. So people are being offered between 50% APY to 1000% APY to lock their ETH and other tokens into smart contracts. I actually fell for this trap back with bitfunder i think it was. But on that scam I was getting 150% apy. I have come to realize that any return over about 20% interest is actually a scam and unsustainable. If you ever see anyone offer APY over 50% you need to resist the urge to listen. Walk away immediately. It is 99.9999% a scam. These poor people are going to be buying ETH at $400 hoping to get 300% APY. Then as ETH fluctuates in price, they will baghold to the bottom. Not to mention it takes like 3-4 ETH transactions to loan out your coins, that's what's driving the fees so high. I imagine this will come to BSV eventually. Will have to watch out for this stuff. Luckily ETH is not at an all time high. Defi might survive until the next bull market. It will be so fun watching it fail and ruin people.
BINANCE:YFIUSDShort
by UnknownUnicorn357720
10