UNIUSD was king of DeFi in 2021 and since its wild surge has in 2021 has been in a bear market ever since. It didnt even make a corrective higher high with BTC.
It has just passed the 1.618 extension from the top and this is in the area of the only support block (circled) on the chart.
Weekly RSI oversold.
Good chance it bounces in this area with BTC.
Not advice.
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Back above the 1.618 and up 17% since I made this call 24 hours ago.
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BTC dumped below my 20K target but UNI is holding firm.
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BTC dumps again but UNi is up.
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UNI pumping hard in the last few hours. That said I wouldnt be surprised if there is a re-test of the fib. If there is i'll buy some more.
I find it curious that at a time when the fear of risk couldn't be any higher.... Many of these cryptocurrencies and for that matter too many Nasdaq stocks to mention... share this almost identical structure and look like they should be considered buying candidates. That doesn't preclude them from just meandering for months either I suppose. If the money supply is soon to contract what happens to all these Johnny come lately assets that were goosed with all the free money?
dRends35
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@oliverrathbun, I'm not sure what your expressions mean - I'm from England :D.
CrashWhen
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It's an animal related coin. Gotta go up!
CrashWhen
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@CrashWhen, Actually I'm not sure if unicorns are animals