P_S_trade

YFI. 12h. A break of $21,000 will trigger the test of $13,000.

Short
BINANCE:YFIUSDT   YFI / TetherUS
Briefly about the situation. Now the market draws a classic Head and shoulsedr reversal figure on a large time frame.
The base is $21,000.
After breaking the base = the target is below $13,000.

Alternative scenario. If the price rises above $37,300, then it will be necessary to look for a new working pattern on the chart.

Fundamental side of the coin. The hacker, who broke the Kucoin exchange yesterday, began to sell coins and fix his profits mainly through DeFi coins, which pretty much squandered them.
And the developers began to stop smart contacts and organize tokenswipes, that is, manually regulate "like decentralized projects".

A strong slap in the face for those who believe that real decentralization already exists in the cryptoworld.

If investors begin to doubt and become disillusioned with such decentralization, then the capitalization of many DeFi projects may roll down.
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