On $ETH, we took the buy side liquidity after taking the sell side liquidity.
This move up looks corrective unfortunately.
We are currently stalling around the 0.618 retracement level
It can change if we take out $1755 level
Pretty big resistance here + all the fibonacci confluences explained in the last $yfi post below 👇
If we break this resistance, then we fly.
For now i think it's more likely we follow the path in red.
If this 12 hours candle closes like that in 3 hours, it will print a bearish shooting star which will most likely send us to the $20K area
you can trade $yfi on FTX...
It offers a good Risk/Reward on a long since the elliottwave corrective structure looks quite clean.
+ the sell side liquidity has already been taken
+ it's a NFT (Non Fungible Token) coin and right now NFTs are hot 🔥
Target All Time High (very possibly higher)
You can buy it on binance (10% off fees through my linktree below 👇)
Price action looks like an impulse wave down from the top after completing a leading diagonal in higher timeframe.
The bounce we had after this impulse to the downside seems too short in both price and time.
I expect more of a bounce before more downside.
The green area is confluence of 1/1 wave A/C + 0.5 / 0.618 retracement form the top + resistance level from...