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jbwathen89
Feb 4, 2021 11:59 PM

UMA, grab a buy in around $28 if it... 

COINBASE:UMAUSD60
UMA / United States DollarCoinbase

Description

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If it bounces off 50ma, try and grab to make some quick money.

Comment

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Re-test of the $41.

Comment

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Hit $28.28, possible reversal. I would wait for verification on the next 4h candle to find out where it will go. It's 2:00pm EST,

Comment

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We have 1 hour left of the 4hr candle to show where we stand. So far it seems the selling pressure is decreasing.

Comment

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That selling pressure has decreased a lot, I see a possible retest incoming for $34 again.

Comment

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Let me rephrase this, lols, I see selling pressure happening atm, we are waiting for that to go.
Trend Analysis
Comments
amizmiz1
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Do you think that we'll see it go back to our ATH again in short term, based on TA? Because it's looking like a descending triangle.
jbwathen89
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@amizmiz1, sorry for the late response. I will check it out and update
jbwathen89
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@amizmiz1, I am seeing weak. It does show positive on the 1hr, but it could go either way at this point. We need to see if there is an increase in volume over next hour.
jbwathen89
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@amizmiz1, Might see a re-test of $41 first
amizmiz1
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@jbwathen89 Thanks! guess we'll find out tonight.
Spokye
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Didn’t break $34 Resistance. Current $27
What’s next coach
jbwathen89
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@Spokye, I assumed it wouldn't break it because the selling pressure was too hard. People left it to run to BTC push yesterday. Now this will accumulate and then go up. Let me check the chart and I will attach it.
jbwathen89
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@Spokye, Hour chart looks crappy, it broke through, but could be a fakeout to grab cheaper.
jbwathen89
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@Spokye, 4h chart has about 1 and half hours left, the candle is below the support of the $28, if it closes below this I expect a possible retest of the $18/$26 area
jbwathen89
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@Spokye, Another area it could test instead of the $18 is the $22 area where the wick and bottom of the candle line up during the initial push.
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