UNI/USDT Binance strategy — heading down to buy zone

UNI is in a downtrend after the formation of the "head and shoulders" pattern, highlighted on the 4-hour chart. The subsequent decline of the asset was confirmed by a bearish divergence with the RSI indicator. The nearest support lines are around $2.89, $2.45, and $1.75 levels. Breaking above the red downtrend lines could mean a rise to the $4.20 level.

So far, the UNI/USDT chart is above the moving average (MA 32), but as soon as the chart crosses below this indicator, the fall of the asset may intensify. Judging by the MACD indicator, there is no reason to open a long position. Therefore the most profitable strategy would be to wait for the UNI to drop to the buy zones identified on the chart.

In this situation, our SmartTrade Bot will be perfect for discovering the best entry point. To configure it for this UNI/USDT trading idea, follow the steps below:

• Head to the SmartTrade menu in your 3commas account;
  
• Select your exchange with your funds and also the UNI/USDT pair;
  
• Set a Limit Order to buy the asset according to the trading idea ($2.9). This is one of the buy zones on the chart, so keep in mind that the price of UNI may fall below and reach the next buy zone;
  
• In the Take Profit menu, set the Limit Order according to your trading idea ($4.16). Select the Volume according to your risk management strategy. Click Split Targets;
  
• Click Add TP Target to add TP2 to your trade ($4.42);
  
• Click Create Trade;
  
• Repeat the action twice, starting with Step 3 and selecting a price according to the two remaining buy zones ($2.45 and $1.76).