YFI has been trading in this channel for nearly 5 months now. At the moment, YFII is residing at the bottom of the channel. Seeing the bullish behaviour of a lot of cryptos at the moment, I see a bright future ahead for YFII.
This trade is based on the continuation of the channel. Since the channel is quite big, expect a long term trade which could potentially take weeks to reach the R1 and R2 targets.
Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power.
On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs . Do your own due diligence.
hi please see my idea