📈 Technical Analysis: Yearn Finance ( $YFI )
Market capitalization: $294 million.
After a prolonged downward movement, the YFI chart has decided to correct with fairly long bullish candles. Let's try to trade this movement.
Strategy❕
🗣Buy. Try to catch a small price dip to open a buy position. Place the stop behind the nearest support level. Take profit before the resistance level.
🗣The risk-reward ratio should be acceptable at the current price level.
If the stop triggers, then consider shorts.
🗣This depends on the position of extremes for setting the stop and how dynamically the situation develops.
Conclusion:
YFI is showing signs of correction after a strong decline. Classic strategy on repeating patterns if the pattern repeats, you can profit.
📈 Open trade with $YFI
YFIUSDT
Prep
3,432
+8.71%
🔗 Chat • X • JioCoinsX