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Crypto SnippetOctober 28, 2020

Crypto Snippet - October 2020

Neeraj Thakur
October 28, 2020
What's in this post?
    Crypto Snippet is a brief overview of the crypto market; focused on Derivatives. This is not financial advice.

    Crypto Pair: KNC-USDT

    Date: 31st October 2020

    DeFi universe has continued to see pressure despite strength in BTC. All coins except a few have touched Sep lows. KNC has broken major handle of 0.80 USDT. The short risk reward is good for a target of 0.60 USDT with a SL above 0.9 USDT.


    Trade KNC-USDT on Delta.

    Crypto Pair: YFI-USDT

    Date: 28th October 2020

    While BTC has continued to make new highs for the year, there has been no strength in the DeFi universe. All the highs are being sold into. YFI has been in a very small range for the last month. It has formed a descending triangle that is likely to break down. One can look to initiate the short position below 12,500 USDT for a target of 10,000 and 8000 USDT. On the other hand, a clean breakout above 15000 will lead prices higher to 20,000 USDT.


    Trade YFI-USDT on Delta.

    Date: 5th October 2020

    YFI recovered sharply after hitting below 1.6 BTC. It has formed a wick pattern on daily charts. YFI is expected to continue this recovery and can touch the levels of 2.0 and 2.4 BTC. One can look to start a long position with a stop loss of 1.6 BTC.


    Date: 2nd October 2020

    LINK has been forming a wedge pattern after bouncing up from 7-8 USDT handle. It is expected to move sharply when this wedge pattern breaks out. Long positions can be considered after breakout of thewedge at 10.5 USDT. On the other hand, one can look to short below 9 USDT.

    Trade LINK-USDT

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