"Jack's Trading Classroom: YFIUSD Short-term Top Pattern"

Original trading lesson "YFIUSD Short-term Top Pattern" by Jack

Currently, we are looking at the one-hour candlestick chart of YFIUSD, which is showing a typical topping pattern - a double top pattern within a one-hour cycle. There is a high probability of a short-term bearish movement, and it is recommended to set stop-loss at the high point of the right shoulder. Consider shorting down to the Fibonacci sequence 200 level at 14920, with partial profit-taking in the Fibonacci 127.2-138.2 range at 16320-16570.

The overall trend of YFIUSD is bearish, and it is more reasonable to take a bearish stance until the formation of a bottom head and shoulders pattern in the four-hour cycle.

In recent days, the digital currency market has experienced significant volatility. It is advisable for traders to strictly implement risk management and avoid high leverage and high contract volume operations to prevent additional losses due to volatile market conditions. This article represents personal opinions, please consider it carefully, as cryptocurrency trading may pose risks to your capital.

WeChat Official Account: Jack's Trading Classroom
Public Telegram Group: https://t.me/jackscrypto