Well, as the headline clearly indicates, YFI is fucked.
Wanted to short that motherfucker for a long time but I somehow convinced myself there are greater fools out there... You gotta admit, there was a lot of hype there due to YFI being so scarce and rare. I'm saying it weights no value, however, given the fact how limited usage it has it was just a matter of time when the price will turn downtrend.
But, it seems there's a pattern where most defi tokens underperformed during the latest BTC correction.
Look at the symmetry though, that's the reason why I choose this one.
It clearly broke the support levels around $21k as it continues falling. The next support levels are around $15K so I'll either play with small amounts of wait for confirmation.
If it manages to reach $20K it might indicate a possible reversal, but until it hits those crucial targets no one actually knows.
Play smart.
