As AlanSantana so keenly observed and was spot on in the analysis previously posted on TV...YFIUSD looks to be repeating this pump and dump descending triangle pattern.
Watch again for breakout once it approaches the descending resistance line again.
Will follow.
Good luck traders!
Yearn Finance CRYPTO:YFIUSD may perform similarly to Chainlink CRYPTO:LINKUSD , or vice versa.
Their structures are near identical.
YFI has persisted longer in its range than LINK and may see a stronger breakout as a result.
Conversely, LINK could follow YFI instead and drop back down to its prior range after its breakout held for some weeks, where YFI's...
YFI has been making higher lows and has enormous upside potential. There was also a very large harmonic on the weekly. Could be very good if BTC keeps heading up.
Coming in with a stop loss that is much higher than i'm normally comfortable with, but the reward is so high! Ideally i'm just going to keep adding to the position that I acquired at $8,440. Let's see what happens!
YFI has been on weighty correction lately this past few weeks from its recent parabolic peak at 16k to the current 8k range.
Based on the recent daily metrics, price movement is getting narrower -- registering triple bottom scenario. A long term shift is gradually transpiring.
Buyers are now back in the zone accumulating.
A prospect of a retest to 2x valuation...
Allowing the right shoulder to form currently which then allows further bullish movement. It will likely retest the previous recent high easily. Possibly even extending past that.
Yearn-finance looks great... Let me explain!
The bottom low for this pair, YFIUSD, hit June 2022.
Ever since this low we have higher lows, with all the action from June 2022 through present time being a very long consolidation phase, if we zoom out and consider the big picture.
When this pair starts to move strong, the action we are seeing now will look flat...
Yearn Finance experiences a major treasury loss due to a multisig script error, leading to new safety measures and community outreach.
In a significant setback for Yearn Finance, a leading player in the decentralized finance (DeFi) sector, a script malfunction in its multisig (multi-signature) system led to a substantial loss of its treasury assets. The incident...
All asset classes are valued by supply and demand. Here's a rare crypto max supply comparison on the YTD 3-day chart:
YFI 36,666
MKR 1,005,577
COMP 10,000,000
QNT 14,612,493
AAVE 16,000,000
BTC 21,000,000
BCH 21,000,000
ZEC 21,000,000
LTC 84,000,000
BAL 96,150,704
ETH +1,600 / day max inflation
ETC 210,700,000
I am not sure currently but with the Clannish tribal way the YFI Fantom CRV crew was consolidating YFI (there was some voting advantage or something they realized they need to get control or majority ownership off) It was like the top 70 percent of tokens was held just by a few wallets TRANSLATION "They" have pretty much full control over this ALT and like to send...
Yearn finance provides promising features for staking and yield farming. Anyway, YFI is currently oscillating in a consolidation zone shaped like a triangle. Let's see if YFI can break this triangle upward or not.
waiting for yearn finance to blow the roof off with yfi token
only 36,666 tokens available
very good R:R from the lows
when defi takes off again this will burst out atmosphere
veyfi coming soon to stake yfi and earn rewards on,
can stake yfi at the moment for curve rewards
All asset classes are valued by supply and demand. Here's a rare crypto max supply & current supply comparison list with the tickerTracker MFI Oscillator set to 13 on the 1 day chart:
YFI 36,666 (33,033 current supply)
MKR 1,005,577 (977,631 current supply)
COMP 10,000,000 (7,786,649 current supply)
QNT 14,612,493 (12,072,738 current supply)
AAVE 16,000,000...
All asset classes are valued by supply and demand. Here's a rare crypto max supply & current supply comparison list with the tickerTracker MFI Oscillator set to 20 on the 1 day chart:
YFI 36,666 (36,638 current supply)
MKR 1,005,577 (977,631 current supply)
QNT 14,612,493 (12,072,738 current supply)
AAVE 16,000,000 (14,093,193 current supply)
BTC, BCH 21,000,000...
Hi Traders
YFIUSD (1H Timeframe)
Waiting for the downward break of 6727 support level which will complete a bearish trend reversal pattern to go SHORT. Only the upward break of 7194 would cancel the bearish scenario.
Trade details
Entry: 6727
Stop loss: 7194
Take profit 1: 6439
Take profit 2: 5974
Score: 7
Strategy: Bearish reversal
Hi Traders
YFIUSD (4H Timeframe)
The market is in a downtrend, and we are waiting for an entry signal to go SHORT below the 6443 support level. Only the upward break of 7038 would cancel the bearish scenario.
Trade details
Entry: 6443
Stop loss: 7038
Take profit 1: 6077
Take profit 2: 5483
Score: 8
Strategy: Bearish breakout
