UNI is in correction mode and making cup and handle formation and possible break out is expected and its just a matter of time. support regions are around 33.1 and 31.49. Also MACD and RSI are giving good indication of break out but wait for it and let the 4H candle close above the descending channel. GOOD LUCK and happy trading.
Disclaimer: Ofcourse not a...
UNIUSDT No Sitting on a Interesting Area
1. it's at the bottom of daily ascending channel and did couple of Reactions to it and now bounced back from 50MA on daily
So basically it's ready to meet the median line of the channel ($34.5 area)
but we're touching the $29 resistance area (Yellow box), this Static resistance now is aligning with 50MA...
Uniswap is up-trending and looks ready to push higher in the coming weeks.
Let's see if it can hold wedge support and break out of the descending channel!
Current Price= 30.8817
Buy Entry= 30.5026 - 29.5126
Take Profit= 33.8286 | 39.1273 | 46.0397
Stop Loss= 27.4518
Risk/Reward= 1:1.5 | 1:3.57 | 1:6.27
Expected Profit= +25.46% | +60.78% | +106.86%
UNI worst case big head and shoulder
Entry market price max lev 4/5x with MM
Level to watch for validation 17.2$
Probability for validation 30%
May happen when tiongkok traders and miners sell their BTC for envelopes for their event
PA : head and shoulder
FA : chinese event
Any question comment