This is what it'd look like if we're very bullish. Maybe if BTC drops today this could happen.
How I see it there are 2 scenarios: 1. Go flat or slightly down and wait to hit resistance line 2. Bitcoin drops and we continue this bullish pump.
If we have a continuation, this is likely what it will look like.
On the 15 min chart, does not look good. Blocked by a previous resistance and we are in a rising wedge. We also happen to be reaching a resistance on the ETHUSD chart as well. Very likely we could break down.
Will we be blocked by this today? If so we are going back down.
The volume right now is huge. I could see FIL trying to hit $26 again. If that breaks, we're going to $28. If I see any unusual activity or if it looks like the current down trend hits an upwards resistance, I will make an entry. There is a potential 20% gain. Also, the market for BTC and ETH is going up, which is good for everyone.
This RSI pattern is terrible. There are 2 options I see: 1. Because $26 got rejected, they are selling until the resistance line to cool off 2. The pump is over. If we pass $26, then we will easily hit $28. What I'm confused about is that the volume on the daily time frame is massive (3x the previous high). I'm surprised we didn't break upwards more..
Waiting for it to be at the bottom of the range before an entry.
I've been sleeping on this coin since it was put on coinbase... It just keeps going up. It's pretty far from the resistance line and I'm not sure if this is a good short term entry or not.
Sell pressure dropping for now. Most likely a 5% pump. Volume is low. Large range on the sell side. Would need a lot of volume to break resistance.
If NUUSD holds above $.23 for now, it's looking good for the bulls. I'm surprised we haven't touched the resistance line yet. The recent pump today is surprising.
Show is over for now. Back to a slow drop for now.
Daily volume is low. Stuck between 2 resistances. Little movement. Only bot traders left. Perhaps, low volume is followed by a pump? Risk reward is just not there. There is no momentum. Must drop before it's able to climb again. Or we need some really good UMA news.
We are currently in a bull run so anything could happen... but right now UMA is making higher highs with a lower RSI. I would not be surprised if UMA went down short term to touch the longer term resistance and then bounce. Overall, UMA is definitely bullish, but I wouldn't say the uptrend is that aggressive.