YFI/USDT — formation of an ascending triangle

The asset came close to the resistance at the level of the previous local maximum. At the same time on the 4-hour timeframe chart is forming an ascending triangle . Since the YFI is in a clear uptrend, this pattern usually indicates a continuation of the bullish movement. Before the final upward impulse, a pullback to the bottom of the triangle is likely to occur, where buy orders can be placed. The buy zone is marked green on the chart.

If the nearest resistance is broken through, YFI will rise to an all-time high, which is now at $43,678. The continuation of growth is also indicated by the fluctuation of the RSI indicator above 50 and a bullish MACD cross.

Until the triangle is broken through, the best strategy would be to gradually buy YFI within the figure using the GRID bot from 3commas. To execute the trading strategy, follow these steps:

  • Head over to the GRID Bot by choosing it from the main menu in your 3Commas account.
  • Select USDT Market and YFI /USDT pair;
  • In the Grid Bot tab, go to the Manual strategy settings;
  • Set the upper limit price to 43,678 and the lower limit price to 33,930. Number of grid lines: 10. Set the quantity per grid parameter according to the amount you wish to spend on each trade;
  • Click the Create button, then sit back and let the Grid Bot go to work!