YFIUSDT_824167 trade ideas
$YFI/USDT 3h (Binance Futures) Bull flag on supportYearn Finance broke-out bullish last week then pulled back to 200MA / desc TL forming a continuation pattern, let's enter here!
Current Price= 28229
Buy Entry= 28163 - 26849
Take Profit= 32410 | 36128 | 40968
Stop Loss= 24697
Risk/Reward= 1:1.75 | 1:3.07 | 1:4.79
Expected Profit= +35.66% | +62.70% | +97.88%
Possible Loss= -20.22%
Fib. Retracement= 0.5 | 0.786 | 1.117
Margin Leverage= 2x
Estimated Gain-time= 2 weeks
Website: yearn.finance
Contracts:
#ERC20 0x0bc529c00c6401aef6d220be8c6ea1667f6ad93e
#BEP20 0x88f1a5ae2a3bf98aeaf342d26b30a79438c9142e
#HECO 0xb4f019beac758abbee2f906033aaa2f0f6dacb35
#AVAXC 0x9eAaC1B23d935365bD7b542Fe22cEEe2922f52dc
#xDai 0xbf65bfcb5da067446CeE6A706ba3Fe2fB1a9fdFd
#Fantom 0x29b0Da86e484E1C0029B56e817912d778aC0EC69
YFIUSDTHello Crypto Lovers,
Mars Signals team wishes you high profits.
We are in the 4-hour time frame. As you can see the price is inside a bearish channel which can be considered a flag pattern. If it goes out of this channel from any side, it will move in that direction. There is the resistance line R1 which the price has hit two times and could not stabilize above it. There is also the support line S1 which the price has hit several times and was supported. The price can break any of these two lines. We also have the R2 and S2 lines which are strong areas of resistance and support which the price can show a reaction after hitting them.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Wish you luck
YFI Starts New Bullrun!Yearn.finance (YFI) crossed above the 200-day simple moving average, which indicates the start of a new bullish trend. This is the first daily breakout and close above the 200 SMA since the September failed attempt.
High Trading Volume
Other technical factors add more confluence to the bullish case scenario, like the rise in the trading volume, which signals buying pressure. If we compare the volume readings from today with September’s readings, we can see a notable increase in the trading volume.
This is the main reason why todays’ breakout above the 200-day simple moving average has more potential to see follow-through.
RSI Positive Momentum
Additionally, we have supportive bullish momentum behind the recent rally, confirmed by the RSI momentum readings above the mid-level 50. We can expect more bullish momentum moving forward if the RSI oscillator stabilizes above the 50 level.
Looking forward: The first resistance level comes around $45,000. However, before that, the big round number of $40,000 can also pose a challenge for the bulls. On the downside, the 200-day simple moving average, which currently stands around $33,000, should act as support.
YFIUSDTHello Crypto Lovers,
Mars Signals team wishes you high profits.
We are in the daily time frame. As you can see the price broke our support line and we had a heavy fall. It was supported again at 17942 and moved upward. It is fluctuating above our resistance line at the moment. If it is able to stabilize above the level, it can experience more rise. But if it is not able to stabilize, it can be a failed breakout and the price will move down toward its support line.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Wish you luck
YFI/USDT ChartBefore I start to talk about YFI I would be grateful if you could like, follow and comment. I am starting to post more often so it would mean a lot.
YFI had two descending triangles in the past weeks that broke the resistance and had a run. After yesterdays bearish divergence on the 4H chart we can expect a small correction to 34K, and then continue the bullish bias toward the coin. In the daily chart the coin doesn't have any recent bearish divergence, so I don't excepect any drop on the mid term. However a major market crash can happen if the bitcoin price movement turns out to be a bull trap. No reason to be worried about that for now. Comment your thoughts about the idea.