Hey, friends hope you are well and welcome the new update on yearn.finance token. In this video you will watch how:
On the daily chart, the priceline of YFI token has formed a perfect Head & Shoulder Pattern and broke down the neckline. The neckline was at $20K.
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On a small time period 4-hour chart the priceline was moving in a perfect uptrend. On 19 Sep the price action has broken down this uptrend-line and now it has established a downtrend and broke down all simple moving averages with the time period of 25, 50, 100, and 200 as well.
Now the price action of yearn.finance is forming different harmonic moves in USD and Bitcoin markets as below:
The harmonic move in the US Dollar market:
The priceline of yearn.finance is completing the final leg of bullish Butterfly and soon it will be entered in potential reversal zone.
The targets as per the Fibonacci sequence of Butterfly are:
Potential reversal or buying zone: $11060 to $2044
Fibonacci projection or sell zone: $18058 to $34994
The harmonic move in Bitcoin market:
The priceline of yearn.finance ( YFI ) is completing the final leg of bullish Butterfly and soon it will be entered in potential reversal zone.
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The targets as per the Fibonacci sequence of Butterfly are:
Potential reversal or buying zone: 1.1557 to 0.3215 btc
Fibonacci projection or sell zone: 1.8030 to 3.3728 btc
Conclusion:
As the priceline is expected to have a more drastic drop in the near future. But as the priceline is also completing the final leg of bullish reversal moves therefore after completing this rally to the downside another rally to the upside can be expected that can be up to 1600%.
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