YFI | breaking the bullish canal downwards, and consolidating
YFI has broken the bullish canal that it has been. This is a big sell sign. However, since it is holding onto the support level below the canal so far, this breakout can be a fake one. In the case of YFI holding onto this support level, it is likely that it will go back to the bullish canal and make a new higher high. The current level is also a strong Fibonacci level, making this support level even more valuable.
In the case of this support line braking downwards, the analysis will be very bearish.
In the case of this support line braking downwards, the analysis will be very bearish.
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