DarkForestCap

DeFi Pulse Index - Breakout from descending wedge

Long
UNISWAP:DPIWETH   DefiPulse Index / Wrapped Ether (0x4d5ef...59991)
UNISWAP:DPIWETH

DPI has been pretty good to LPs since mid October, oscillating around the 0.17ETH level and keeping impermanent loss fairly minimal. With BTC making another attempt at ATH there is a chance for alts to outperform majors and see a decent break up and out of the descending wedge . Entering long DPI here presents a good risk defined opportunity, with stop either tight to the 0.17 level or below the most recent daily pinbar depending on your timescale.

Of course you can always stay providing liquidity to the ETH/DPI pair and just harvest the volatility!

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