"Jack's Trading Classroom: YFIUSD showing a potential head and shoulders pattern on the four-hour timeframe"

Currently, we are looking at the four-hour candlestick chart of YFIUSD, which shows a head and shoulders pattern. The left and right shoulders are at a standard height compared to the head, and the neckline can be determined by a trendline or the upper resistance level of 22030.0.

Currently, we are looking at the four-hour candlestick chart of YFIUSD, which shows a head and shoulders pattern, with standard left shoulder, head, and right shoulder highs, and the neckline can be judged by a trend line or the resistance level at 22030.0.

Earlier, the trend line has been broken, combined with the arrangement of lower highs in the head and right shoulder, indicating a stronger bearish trend, and has already reached the Fibonacci support levels of 127.2-138.2 range at 18225.0-19320.0.

If this range is broken, there is a high probability of further decline, with the first target below being the support level at 13335.0, followed by continued focus on the Fibonacci level of 200 at 12065.0.

In recent days, the digital currency market has seen greater volatility, and it is recommended that operators strictly follow risk management practices and avoid high leverage and high contract volumes to prevent additional losses due to volatile market conditions. This article is for personal commentary, please consider it carefully, as cryptocurrency trading may pose risks to your capital.

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