"Jack's Trading Classroom: A Brief Discussion on YFI Technical Pattern - Head and Shoulders"

Currently, we see the chart of YFIUSD, whether on a four-hour candlestick chart or a daily chart, showing a standard head and shoulders pattern. When the head and shoulders pattern appears at the top and the neckline breaks down, it often indicates the end of an uptrend, with a high probability of a downtrend.

If the YFIUSD neckline low point at 20275.10 breaks down and closes lower, it is highly likely to signal a bubble-like decline. Based on technical analysis, the YFIUSD head and shoulders pattern should see a drop of -3416.11. However, this price is already below zero, so after the neckline range of 20275.10 breaks down and closes lower, investors may consider exiting long positions in YFIUSD and spot positions to avoid asset losses caused by a bubble burst.

Upper resistance levels:
R1 29444.44
R2 33532.53
Lower support levels:
S1 24075.01
S2 21939.44
S3 13336.15
S4 6136.24

In recent days, the digital currency market has experienced large fluctuations. It is recommended that operators strictly implement risk control measures and avoid high leverage and high contract volume operations to prevent additional losses caused by volatile market conditions. This article represents personal opinions, please read with caution, as cryptocurrency trading may pose risks to your capital.

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