Quick trade on YFI/USDT: inverted Head and Shoulders AHEAD

Quick trade on YFI/USDT: inverted Head and Shoulders AHEAD

By toofasteddie | The cryptorunner | 19 Oct 2020


Long time since I posted my last call on any trading set-up.
Obviously, since then, not so many chances have appeared because BITCOIN has been moving hesitant but, in my opinion, I think most of the altcoins have touched the bottom lately and perhaps it is a good moment to set some longs on them.
Actually, I am following what the pair YFI/USDT is doing on the 1h-chart which is building a nice inverted Head and Shoulders pattern.

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This powerful pattern is preceded by a not less powerful Bullish divergence with the RSI, do you see? when the price does lower lows but not RSI that means a reversal is likely to happen and that is what is exactly occurring since yesterday.

I set my entry close to the Neckline of this pattern (15550 USD) and the target would be 17550 USD as the projected by the same:

image.png

Let's have fun!


I'm sharing only my quick trading Ideas here, not financial advice at all ;-)

@toofasteddie

*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

 

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toofasteddie
toofasteddie

Dad, Engineer, Runner and Crypto-trader


The cryptorunner
The cryptorunner

Opinion and Trading Ideas about crypto

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