$YFI - SHORT Setup
Entry: 3,370 – 3,390 (On rejection from this resistance zone)
Target 1:3,320
Target 2:3,280
Stop Loss:3,420 (Above the 24h high)
My View:
YFI is in an extreme and persistent downtrend,with catastrophic losses over the past 90 days (-91.94%). The current price action shows a weak bounce within this overarching bearish structure. The price is approaching a defined resistance area capped by the 24h high (3,389) and the immediate supply level. The order book shows a balanced but immediate Ask presence, indicating selling pressure is ready to engage. This bounce lacks the volume and structural change needed to suggest a trend reversal and is more likely a relief rally within a continued decline. The plan is to position for the downtrend's resumption by shorting a rejection from the defined resistance zone, targeting a retest of the recent low and potentially new yearly lows.
Bias: Bearish below 3,390. A break and sustained hold above 3,420 would indicate the corrective move has more room to extend.
Disclaimer:My plan. Not advice. Trade your own risk.
