YFI has been moving to the beat of its own drum these past few weeks. It looks to have bottomed against BTC and is about to have a second coming.
1st target is 68-73k. 2nd target 83-85k. 3rd target 106-108k.
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Love the structure of this pair.
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Looks ready I think. Maybe a little more consolidation under resistance and it should go.
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Target 1 hit.
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Target #2 hit. Honestly thought it would take a big longer with some bumps along the way, but here we are.
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Update: YFIUSD This level needs to hold otherwise the trend will be lost.
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YFIBTC potential bull flag forming.
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Bull flag obviously failed, but trend line is holding on YFIBTC. It trades a lot cleaner than YFIUSD. If you're trading USD pair you're most likely liquidated on that recent crash which was brutal. I'll continue to monitor it's progress. We most likely range for awhile on BTC pairing.
Great work...do you have a new resistance level in mind and do you expect price to hover around the new resistance for some time or just keep going up, up and away?
BTCilyKandinsky
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@naidmanshah, Thanks! It's obvious everything just dipped pretty hard. I'm awaiting for BTC to find some more structure before entering again, but a sweep of the prior low around 56k interests me as it is a test of the break out point. Hard to tell what BTC will do next currently. Ideally would like BTC to develop bullish divergences on multiple time frames starting with the 4 hr.
BTCilyKandinsky
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@naidmanshah, on YFIBTC here at 1.35 is a support, but I'd rather wait for more structure and possibly a test at around 1.12.
@BTCilyKandinsky, you nailed this bro! I missed the boat on this one tho. You think there's still room to get in?
BTCilyKandinsky
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@goldengramz86, Thanks man! I think it has a lot more to go, but I would need to see what kind of consolidation pattern it puts in before entering. I personally would play it level to level, but I do expect it to hit 6 digits in the near future.
chocherita
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You are right! But my target within 3 months is 250k plus.This is a monster ready to pop!!!
BTCilyKandinsky
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@chocherita, I may be too conservative haha. I'm following price action until it signals tops on this one.