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Falling wedge, break out and 40k is min target. Get beyond 40k, we could head towards 50. Fail to break out and we could head towards a new low in the low 20s. We stopped 3 times in the same area, with a slightly higher low each time. Chances seem good here.
Yearn has been correcting and consolidating for over a year now. If it's going to move again, it may...
Target 1 - just above 40k
Target 2 - just under 50k
Also see weekly and daily YFI / BTC chart which has potential for much more upside should we reach the interim targets mentioned above on this pairing:
See related idea linked below.
My Minimalist Analysis of $YFI
Indicated are key levels of support and resistance using small and large range boxes TO ENTER A SWING TRADE (Short - Long).
Watch out for patterns, EMA, and your Fibs.
Further Analysis on price action is required on a 1HR-4HR chart when entering or closing a trade, depending on your risk appetite and trading style.
Simple chart here - YFI completed a W pattern here when it broke its neckline and successfully stayed above it after re-testing multiple times.
I'm expecting a move that gets us pretty close to the 0.5 fib as shown on the chart, and targeting somewhere between 52-54k, may see some psychological resistance at 50k.
In YFIUSD 4H
It rebounded after touched long and short term tunnel
If the close of 4H can higher than 12ema
1st target can be (41997.5)
2nd target can be 1.272~1.382(45102.5~46359.5)
3rd target can be 1.5(47707.8)
YFI Preliminary Entrance: 39691
Gains Since Entry: 3.69%
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