Hey, friends hope you are well and welcome the new update on DFI.Money token. In this video you will watch how:
On a small time period, 4-hour chart the priceline of the YFII token was moving in a descending triangle and finally broke down the support.
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On 4 hour chart, the priceline also has broken down all simple moving averages with the time period of 25, 50, 100, and 200. Therefore once the priceline will move up it will need to breakout all these resistance levels of SMAs.
On the daily chart the priceline of DFI.Money has broken down the support of pennant.
On the daily chart, the priceline of YFII token is likely to continue its movement within a down channel. At this time the priceline is likely to test the support of this channel again. The moon phases indicator is showing a new dark moon is appeared below the support of down channel that is another bearish signal. The lowest support on the daily chart at $800 can be seen as well. Volume indicator showing powerful sell volume. The volume oscillator is showing powerful sell oscillation with the value 35.
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Conclusion:
As in my previous article, I predicted that if the priceline will break down the support of Gartley then it can move more down to form a Butterfly pattern.
In order to complete the final leg of Butterfly, the price action of the YFII token needs to retraced between 1.27 to 1.618 Fibonacci levels. But these levels are in negative territory therefore it is not possible for priceline to move down than $0 level. The volume profile of complete price action is showing trader's interest up to $716. Therefore We can expect that in most bearish scenario the priceline may hit the spike up to this level and then it can reverse bullish. The point of control of the volume profile is at $1250 and the pivot point of the daily chart is at $5700. So in case of a bullish reversal, the priceline can move between these levels.
