YFI
YFI has been of particular interest over the past few months. YFI is one of the few coins which is valued higher than BTC, with YFI currently valued at 23,000 USD while one BTC is valued at $18,000 USD. As we can see below, YFI has had a solid recovery during November. This has come as welcoming price action for those holding YFI, as the cryptocurrency has seen major losses since mid-September.
YFI/USD
The recent YFI rally occurred after YFI broke out of a descending wedge. This particular descending triangle had been brewing since 12/09/2020, with YFI only recently seeing a positive breakout (05/11/2020). Nearly a two month descending wedge formation.
Descending wedge
The descending wedge formation seen by YFI is a bullish formation.
YFI/USD descending wedge
Since late July, YFI has seen substantial swings in price swings. The first period of price movement was from 27/07/2020, where YFI rose 2000% all the way to ATHs, seeing YFI hit over $42500 USD.
The second period of price movement was the descending wedge mentioned earlier. During this period YFI lost 81% of its value, falling towards $7500 USD. However YFI was still up 304% from its July price.
Recently, we entered the third stage of the YFI price movement. This third stage is a bullish retracement stage, which has so far seen YFI gain 183% from $7500 USD. This then takes us towards the current YFI value $22000 USD.
YFI/USD gains/losses
YFI support / resistance levels
| Support level (USD) | Strength |
| $20750 | Strong |
| $15000 | Very strong |
| $7300 | Weak |
| $2100 | Very weak |
Support level conclusion
YFI has managed to pass through the previously very strong resistance levels. Now YFI has been seen using these levels as support. With YFI bouncing off $7300 USD while $15000 and $20750 both have multiple validation points of YFI using as support.
The strongest support level for YFI is the $15000 USD support level.
YFI/USD $15000 USD support level
| Resistance level (USD) | Strength |
| $32250 | Strong |
| $39000 | Very strong |
Resistance level conclusion
YFI has free space to move towards $32250 USD. However from here YFI will find resistance at $32250, with an ATH resistance of $39000 USD
YFI/USD support/resistance levels
YFI recent movements
YFI is currently moving in an upwards trendline. This is a secondary trend line, with this trend line separated from the first with the red box, as seen below.
YFI/USD
However within this red box was a symmetrical triangle. The symmetrical triangle found between EWs 1&3.
Currently it appears as though YFI is moving within the 3rd/4th wave, with YFI potentially seeing a slight retracement towards $20000 USD. YFI if following the EWs will then meet resistance at around $32250 USD.
YFI/USD EWs
YFI Indicators
| Indicator | Bullish | Neutral | Bearish | Note |
| Gann HL | X | Underneath the candles, therefore bullish. | ||
| SAR | X | Again underneath the candles, therefore bullish. | ||
| PPs | X | Currently above the R1 PP, bullish. | ||
| MA ADX | X | Has just switched from red to green, currently bullish. | ||
| MACD | X | Green histogram, recent positive crossover. Bullish. |
YFI/USD Indicators
Indicators conclusion
In conclusion the indicators are clearly bullish. YFIs recent breakout is bullish, with there currently appearing little reason to be bearish. YFI may retrace towards $20000 USD however the bullish aim is $32000 USD, a 41% gain from our current position
CEL
CEL has been one of the top performing cryptocurrencies of 2020 and is continuing to make moves within the market.
CEL has increased over 5000% since the March crypto-crash and is currently sitting at around $2 USD. Currently this extraordinary growth is showing few signs of slowing.
CEL/USD price increase
Currently CEL is using an upwards trend line for support. This trend line has been present ever since CEL was at $0.4 USD and has multiple points of validation, as shown below.
CEL/USD trend line
CEL EWs
Currently CEL is moving within the final 5th wave. It appears as though a push towards the R5 level will occur, which could see CEL move towards $2.8 USD. This would be a 35% increase from our current position.
CEL/USD PPs, EWs
CEL Indicators
| Indicator | Bullish | Neutral | Bearish | Note |
| BBs | X | Currently in the upper region of the BBs. Centre line has provided successful support. Bullish. | ||
| MA ADX | X | Currently green, bullish. | ||
| Gann HL | X | Gann HL is underneath the candles, bullish. | ||
| SAR | X | Has seen a recent flip, showing a change in momentum, suggesting an upwards move is soon to come. Bullish. | ||
| MACD | X | Histogram is flat, with the MACD showing no real direction. Neutral. | ||
| QQE MT4 | X | QQE MT4 has recently seen a negative crossover, with the red line going underneath the yellow line. Bearish. |
CEL/USD indicators
CEL indicators conclusion
CEL has a general bullish overtone, however signs of weakness can be seen. This weakness is displayed with the MACD and QQE MT4.
BTC
BTCs growth has been something special over the last couple of months. Over a 72 day period BTC has increased in value by 83%. During this growth, BTC has left most altcoins behind, showing a potential increased interest in just BTC rather than the overall cryptocurrency market.
BTC/USD growth
BTC EWs
BTC is currently in relatively unseen territory, only around 12% down from ATHs. BTCs ATH is at $20000 USD. This will likely provide major resistance towards BTC, potentially setting off a retracement from this large move.
BTC appears to be within the 4/5th wave. It looks as though this wave will end at $20000 USD. However there is potential for BTC to continue higher.
BTC/USD EWs
BTC indicators
| Indicator | Bullish | Neutral | Bearish | Note |
| Fractals | X | BTC currently in the upper green zones. However resistance will be provided by the uppermost fractal as BTC approaches $20000 USD. Bullish. | ||
| SAR | X | SAR currently underneath the candles. Bullish. | ||
| MA ADX | X | Green, bullish. | ||
| MACD | X | Has seen a positive crossover with gradual growth, alongside a healthy histogram. Bullish. | ||
| 6/20 SMA | X | 6 day is currently above the 20 day SMA. Bullish crossover. |
BTC/USD Indicators
Indicators conclusion BTC
Overall the indicators are bullish. BTC is currently showing no reason to slow down, however as BTC is approaching the upper most fractal, resistance may be seen. FOMO will be strife currently, potentially pushing BTC towards $20000 USD. However entering a long position in the current climate with BTC could be dangerous.
