UNFI cryptocurrency has retraced to the initial level after almost 400% pump. A strong support and the most recent sharp 60% bounce attests my idea that this altcoin is close to its bottom
As you can see UNFI lost the support of the trendline. In case of retracement we can expect it move down to the 0.382 support level ( 0.000579 - 0.000572 ).
Textbook breakout pattern again with substantial volume on the initial bullish impulse.
Aside from the technicals, UNFI has several major news announcements in the coming weeks so it seems to be the perfect storm for a nice rally.
With appropriate stop losses and entries this is an amazing R:R trade set up
UNFI is a monster! Next ascending triangle has build, enough volume last days so I realy think next leg is coming to the upside! If it hodl the trendline!
Keep an eye on UNFI, sitting at a really strong trend!
UNFI / BTC
🌟 Techincal Analysis 🌟
Potential C&H pattern
Price after break neckline of pattern jumped to 1.618 fib level from there we can see small rejection
If the price dropped again to support that will be agood buy (high reward and small risk trade)
This is not financial advice
Good luck and happy trading 🌹
