Bullish outlook on YFI
How's it going everyone thought id share my trade idea.
I've been looking into coins that havent really pumped over the last few days
and YFI is a huge standout. Fundamentals on YFI havent changed and as per Julians Dobrics
post with the rollout of uniswap V3 this could lead retail investors to look for other
options to yeild opertunities.
Technically YFi is looking strong currently tapping at a massive psychological barrier
of 40000 (I'm trading the YFIPERP on FTX so this resistance is a little different at 40185)
MACD,MA and RSI are all convergent which is a strong bullish indicator. If we can break this
barrier and resistance flip this will give YFI some legs to catch up with other coins that have
already had a nice run.
Caution*** There is still a chance we could reject if BTC kicks into gear and decides
to have a run, also with my trade strategy my stop loss is 10% below my entry
so I'm making sure I mitigate my risk.
I've been looking into coins that havent really pumped over the last few days
and YFI is a huge standout. Fundamentals on YFI havent changed and as per Julians Dobrics
post with the rollout of uniswap V3 this could lead retail investors to look for other
options to yeild opertunities.
Technically YFi is looking strong currently tapping at a massive psychological barrier
of 40000 (I'm trading the YFIPERP on FTX so this resistance is a little different at 40185)
MACD,MA and RSI are all convergent which is a strong bullish indicator. If we can break this
barrier and resistance flip this will give YFI some legs to catch up with other coins that have
already had a nice run.
Caution*** There is still a chance we could reject if BTC kicks into gear and decides
to have a run, also with my trade strategy my stop loss is 10% below my entry
so I'm making sure I mitigate my risk.
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