A breakout can soon happen in either direction as a Symmetrical Wedge Formation formed. Also pay attention to the narrowing Fibonacci Bolinger Bands which also indicates the same.
Personally I think UNIBTC pair is much more indicative than UNIUSDT as UNI follows BTC path unless some individual significant movement occur.
It just reflects it with a coefficent so generally speaking when BTC price rise, UNIBTC price rise, which increases gains in UNI more than BTC. However the opposite is also true.
So trading UNI is like trading BTC on a margin + Risks in DEFI space.
Best of luck...
Personally I think UNIBTC pair is much more indicative than UNIUSDT as UNI follows BTC path unless some individual significant movement occur.
It just reflects it with a coefficent so generally speaking when BTC price rise, UNIBTC price rise, which increases gains in UNI more than BTC. However the opposite is also true.
So trading UNI is like trading BTC on a margin + Risks in DEFI space.
Best of luck...
Comment:
To better itetate, Risks & possible gains due to improvements (& adaptation) in Defi Space