YFI/USDT – Distribution Near Resistance – SHORT Setup
Trade Plan:
Entry: $3,040 – $3,090
Stop Loss: $3,165
Take Profit 1: $2,980
Take Profit 2: $2,920
Take Profit 3: $2,840
Rationale:
YFI has struggled to break and hold above the $3,120–$3,160 resistance zone, forming lower highs on the 1H chart. Momentum candles are shrinking following the recent impulse up, indicating buyer exhaustion. Price has now retreated into the prior range, often a precursor to a liquidity sweep toward lower support levels.
Discussion:
Will $YFI hold the $3,000 psychological support, or is a deeper correction on the horizon?
Strategy: Watch for confirmations to short or buy around key support levels.
Buy $YFI here
YFIUSDT
Perp
3,098
+3.57%