Uniswap's Rollercoaster: Next Stop, New Highs?

Similar to other cryptocurrencies, Uniswap presents a scenario where we're concluding Wave 3 and now developing Wave 4. This Wave 4 is expected to retrace between 38% and 50%. We're setting our stop-loss below the level of the subordinate Wave ((iv)), to accommodate the possibility of this level being revisited without being stopped out. The upward trajectory remains unclear, as we await the completion of Wave 4. However, like with others, we anticipate surpassing the level of Wave 3, aiming for a maximum of $25.28 with Uniswap

Comment:

For Uniswap, we believe we're still dealing with Wave 4. It's possible that we've formed Wave ((a)) and will develop Wave ((b)) in the coming days. At this point, it appears more like a zigzag movement rather than a flat correction. However, it could still be a flat correction where Wave ((b)) overshoots Wave 3, possibly up to 138%. If this doesn't happen, we still expect a reversal in the zigzag pattern, leading to the completion of Wave ((c)) at our entry point at 38.2%, followed by the development of Wave 5.

Trade active:

We got filled on our entry for the wave 5 on Uniswap. We entered at the 38,2% fibonacci retracement but still there is a chance we come lower but we shouldn't fall below the green line at $9.878. There also could be the scenario that this is only the wave ((a)) and wave ((b)) and ((c)) are going to develop before we complete the wave 4. We think this sceanrio is very likely but as always we keep you updated first!

Comment:

Our target zone for Uniswap continues to firmly support our scenario that we are dealing with Wave 4. We have now reached the maximum level of 50% that we wanted to achieve. However, we are increasingly coming to the conclusion that Wave 4 may already be completed and that the scenario with a zigzag or flat structure and a deeper Wave 4 seems rather unlikely. We believe that we will complete the Wave 5 before moving lower. This is more in line with our expectations than the scenario where we make deeper lows for Wave 4. We haven't entirely dismissed it yet, but by outlining the zone with dashed lines, we indicate that it is our secondary scenario, while our primary scenario remains the completion of Wave 4 and the upcoming Wave 5, concluding the overarching Wave (3).

Trade closed: stop reached