Watch out! UNI Very low Fib Zone/Checkout TOTALDEFI as well
If you are looking to accumulate UNI, I think you should start playing an attention to it now.
1. I still think 3.8 will get tested again. This will be the level to determine whether the base of the next cycle will be there or not. As drawn in the chart, I expect it to get test very soon at least once. However, it can be thrice or more but the more the better. That is why you should pay attention now.
2.If it does not hold, this will be very bad as it will go to the ATL. It might end up with a bear trap- as a wick- at ATL,like COMP that is testing it now, or even worse cannot hold up. If it cannot hold up, it will prolong the Bear cycle here for several months before the new solid ATL support is created.
3.Another thing to consider as a hypothesis is whether DEFI coin will come back first among all sectors or not and it might be a leading indicator of the crypto market.
- It is where to investor money - with conviction and risk tolerated come in.
- If you compare the chart between DEFI coin and others, you may find out that DEFI sector entered the Bear first before other sector, e.g. L1 protocols.
4.You may check TOTALDEFI chart to see the overall DEFI market condition in support to point 3. Currently it shows a "possible" exhaustion gap and a wick at FIB 0.78. Thus, now is the time you show really pay attention to it whether the reversal will be happened here or not. TOTALDEFI chart is more of a holistic view but yet UNI is one of the market dominant btw.
1. I still think 3.8 will get tested again. This will be the level to determine whether the base of the next cycle will be there or not. As drawn in the chart, I expect it to get test very soon at least once. However, it can be thrice or more but the more the better. That is why you should pay attention now.
2.If it does not hold, this will be very bad as it will go to the ATL. It might end up with a bear trap- as a wick- at ATL,like COMP that is testing it now, or even worse cannot hold up. If it cannot hold up, it will prolong the Bear cycle here for several months before the new solid ATL support is created.
3.Another thing to consider as a hypothesis is whether DEFI coin will come back first among all sectors or not and it might be a leading indicator of the crypto market.
- It is where to investor money - with conviction and risk tolerated come in.
- If you compare the chart between DEFI coin and others, you may find out that DEFI sector entered the Bear first before other sector, e.g. L1 protocols.
4.You may check TOTALDEFI chart to see the overall DEFI market condition in support to point 3. Currently it shows a "possible" exhaustion gap and a wick at FIB 0.78. Thus, now is the time you show really pay attention to it whether the reversal will be happened here or not. TOTALDEFI chart is more of a holistic view but yet UNI is one of the market dominant btw.