when bitcoin's dominance is moving up fast and we have a bearish market it isn't seems right to analysis altcoins like this one but anyway i tried to find out what will happen to yfi for practice..i have two scenario according to bitcoin's move, if BTC continue correction i expect RED ARROW's path so it will support on 16800 and if btc stop correction i will wait for the GREEN ARROW's path and a bullish move to 34k...(also can you see possible head & shoulder like me?)
and btw i'm writing a guide for read my chart below:
YELLOW VERTICAL LINES are possible timelines those are where i think waves can start or end..
BLACK LINES are resistance and supports that i got from GANN tools..
ORANGE LINES are fibbonacci retracement
GREEN and RED zones are where we have powerful support...
everything else is clear i guess...
note that this chart is a practice I'M NOT TRADING in this market right now please don't consider this as a financial advice
please like and comment if you're agree with me
and btw i'm writing a guide for read my chart below:
YELLOW VERTICAL LINES are possible timelines those are where i think waves can start or end..
BLACK LINES are resistance and supports that i got from GANN tools..
ORANGE LINES are fibbonacci retracement
GREEN and RED zones are where we have powerful support...
everything else is clear i guess...
note that this chart is a practice I'M NOT TRADING in this market right now please don't consider this as a financial advice
please like and comment if you're agree with me
Trade closed: target reached