Yearn.finance (YFI) Consolidates Further, Still Bullish!

17 Jan 2021

Since my chart on 9-Jan., shared below, YFIBTC (Yearn.finance) continues with its bullish consolidation.

Previous chart:

We can see the bullish bias on this chart as prices continue higher now challenging the EMA50 magenta line.

We could see two scenarios mainly develop here:

1) We could see prices moving straight up if EMA50 is easily taken out.

2) On a second note, we might get a retrace at EMA50 follow by higher prices.

This is the bullish perspective we are looking at.

Any trading within the purple trendlines and the bulls have the upper hand.

If prices break and close below the last low, we can expect to see lower prices.

Thanks for reading.

Namaste.