"Jack's Trading Classroom: YFIUSD Short Trend Still Unreversed"

Original trading classroom by Jack, "YFIUSD short trend has not reversed yet"

In the previous article "YFIUSD Head and Shoulders Neckline Trendline Breakthrough," it was mentioned that "once the low point of 20335 is broken, there is a high probability of a bubble decline, with the first range potentially dropping to the 127.2-138.2 range of 11325-13920." At the time of publication, the YFIUSD quote was at 20570.

Today, we are seeing the four-hour candlestick chart of YFIUSD, with YFIUSD dropping to a low of 16035 and forming a low point before a slight rebound. Attention should be paid to the trendline formed by the previous head and shoulders neckline or the resistance level of 21940 above.

If the price fails to close above the resistance trendline or the resistance level of 21940, the trend will be a perfect bearish pattern, and traders should continue to operate with short positions and avoid buying spot positions as a reasonable operation.

Resistance levels
R1 21940
R2 24075
R3 29445
R4 33530

Support levels
S1 13335
S2 10405

The recent cryptocurrency market has seen large fluctuations, and it is recommended that operators strictly implement risk control and avoid high leverage and high contract volume operations to prevent additional losses caused by volatile market conditions. This article is a personal opinion. Please read with caution, as cryptocurrency trading may pose risks to your capital.

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