UNISWAP → Falling out of Bull Channel to $4.80? Let's Answer.

Uniswap has fallen out of its Bull Channel and is surfing on the Daily 30EMA! After Bitcoins harsh selloff at resistance, is Uniswap and the entire crypto market about to reverse to previous lows?

How do we trade this? 🤔
Uniswap price action is currently going sideways in a trading range, a typical signal when a Bull Channel has come to an end. What we need now is a sell signal to confirm the price is going down and we need to look for it at the Left Shoulder high price of $6.86. If we get a strong sell signal bar and confirmation closing on or near their lows at that price, then we will have a Head and Shoulders reversal pattern playing out, giving us the necessary justification to short. Keep an eye on Bitcoins behavior as well to see if the general market sentiment is shifting.

My latest analysis on Bitcoins future here:

💡 Trade Idea 💡

Short Entry: $6.27
🟥 Stop Loss: $6.89
✅ Take Profit: $5.03
⚖️ Risk/Reward Ratio: 1:2


🔑 Key Takeaways 🔑

1. Fell out of Bull Channel, Trend Changing.
2. May bounce off of 30EMA and attempt Left Shoulder Price.
3. Look for potential Head and Shoulders Reversal Pattern.
4. RSI at 50.00 and below Moving Average, Bias to Short.
5. Reasonable to Short if Sell Confirmation on Right Shoulder.


⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!


Like 👍 and comment if you found this analysis useful!