I am not interested in UST personally, but I've been asked to do a little analysis on it.
It doesn't look good to me.. on the daily is my bottom line ---- but I am wrong about things of course and this is crypto.
As for the specific request for a scalp; I can't see one. - I don't personally short the market. I just go long. So There could be shorts I'm not seeing.
(My shorts are taking profit on my longs essentially)
Reason I can't see a long scalp is there is we are in price discovery downwards. You shouldn't try and catch reversals when In price discovery - it's very risky to my mind. I also wouldn't suggest blindly investing as this 'stable coin' is anything but what it's supposed to be.
I don't know about the fundamentals of it either... Not sure if it's attached to Lunc or 'Luna-V2' e.t.c
But here is the bullish version of what I see - but again, I can't see where to put a stop. So I wouldn't be trying to trade this up down or sideways.
Not financial advise or trading advise - just sharing what I can/can't see for educational purposes.
It doesn't look good to me.. on the daily is my bottom line ---- but I am wrong about things of course and this is crypto.
As for the specific request for a scalp; I can't see one. - I don't personally short the market. I just go long. So There could be shorts I'm not seeing.
(My shorts are taking profit on my longs essentially)
Reason I can't see a long scalp is there is we are in price discovery downwards. You shouldn't try and catch reversals when In price discovery - it's very risky to my mind. I also wouldn't suggest blindly investing as this 'stable coin' is anything but what it's supposed to be.
I don't know about the fundamentals of it either... Not sure if it's attached to Lunc or 'Luna-V2' e.t.c
But here is the bullish version of what I see - but again, I can't see where to put a stop. So I wouldn't be trying to trade this up down or sideways.
Not financial advise or trading advise - just sharing what I can/can't see for educational purposes.
Comment:
The current low. (lowest ever price of UST) is 40% down. So I wouldn't want to be using that as a stop for a scalp. And daily just looks bad so I wouldn't want to try and swing trade it either... nor do I want to invest.
Comment:
That said, Broken supports often get retested. So there is a possibility it goes back up to retest that. (and ofc it could break up and keep going)
The 1h + 4h Div implies to me that the market might want to check out the broken support to make sure. Then if that becomes a S/R flip, down we go I would guess.
The 1h + 4h Div implies to me that the market might want to check out the broken support to make sure. Then if that becomes a S/R flip, down we go I would guess.
Comment:
Again from a kind of bearish perspective, the .382 could be a target as it's in the broken support box.
Again from a kind of bearish perspective, the .382 could be a target as it's in the broken support box.
Comment:
^ That's if we don't create a new low first... as that would change the Fib levels.
Comment:
ahhhhh what a fuckup. The chart I used is dead.
I've been wondering why there's been no new candles (-_-)
So coinbase paused or delisted UST I guess.
Ignore this whole post.
I've been wondering why there's been no new candles (-_-)
So coinbase paused or delisted UST I guess.
Ignore this whole post.