$YFI - Head and shoulders pattern

1 Eki 2020

I spotted this and then clicked onto Twitter to see that every moron has seen the same thing.

Argument for:

YFI is on a support line that's been tested a few times now so buyers must be getting fatigued at this point. More than the pattern, that makes me think we could see a drop to the support below.

This just happens to track with another support further down that was established prior.

Argument against:

It's always important to remember that crypto is a manipulated market, and being part of a crowded trade (especially in the short-term) isn't always a brilliant place to be.

My verdict:

Most likely, further downside. I'm not in YFI right now, instead building a position on CORE.

2 Eki 2020

Not

Neckline broken, road to nearest support has begun.

11 Eki 2020

İşlem kapandı: hedefe ulaştı

Pretty much went exactly as anticipated.