✴️ YFI | Ready To Follow Bitcoin (Name Your Altcoin #45)

16 בפבר׳ 2023

It's been so long since I last looked at this pair... I used to trade it frequently in the past.

YFIUSDT is one of the "strong ones", we have a strong higher low in late December/early January vs June 2022 which gives away what we will see in the coming weeks.

The fact that the trading volume remains really low all throughout January as prices grow above multiple resistance levels and breaks a strong downtrend, signals that the best is yet to come.

When the big volume comes in, we will be seeing 100%, 200%, 300% or more in sustained growth.

This is a unique way to look at the volume signal.
We look at it within the context of the trend, just as we do with the RSI and other indicators.

Taking any of these signals in isolation can lead to mistakes and thus on a bullish bias, no volume can indicate that the selling pressure is not present and the bulls can easily move ahead, saving their ammo.

Once resistance shows up, high volumes comes in and prices can continue with their growth.

A higher high follows a higher low.

The main target right now is $19,800 but there can be more depending on how it all goes.

Better to be conservative and secure profits on the way up, selling in portions, one can always rebuy and reload at the time when corrections show up.

There will always be corrections, so it is wise to secure some profits when everything starts to grow.

Buy red to sell green.

Namaste.