UNI / BitcoinLong
UNIBTC breaking out?
Hi there,
I'm new to trading, FOMO'ed myself a bit too quickly into some crypto (I know...), one of which UNISWAP. I first wanted to buy and hold all my assets, but after diving into it I really enjoy discovering trading and am considering doing some trend trading. Have been doing some research and am planning to continue doing so and practice a lot. This is my first attempt at an analysis for UNISWAP.
Signs of breakout above resistance about to occur:
1. BTC dominance lowering
2. Higher highs, higher lows
3. Multiple tests of resistance level
4. Trading above 100 & 200 MA
5. Trading above 20 MA
6. 20 MA just crossed 50 MA
7. 200 MA is moving up
8. Candle 21 April closed above 50 MA. Next green candle closed above high of that candle.
9. RSI divergence: RSI high is lower, price is higher (black lines)
10. Ascending triangle pattern
11. Rising OBV
What to watch for next:
1. Continuation of signs
2. Increase in volume
3. Break above resistance
Possible longer-term strategies/exits:
1. Hold at least until after V3 update in May
2. Assume ETH Upgrades are going to push ETH higher and pull up everything ETH based with it. See how that plays out.
3. Exit position when passed entry point and downtrend signals form
Feedback welcome!
I'm new to trading, FOMO'ed myself a bit too quickly into some crypto (I know...), one of which UNISWAP. I first wanted to buy and hold all my assets, but after diving into it I really enjoy discovering trading and am considering doing some trend trading. Have been doing some research and am planning to continue doing so and practice a lot. This is my first attempt at an analysis for UNISWAP.
Signs of breakout above resistance about to occur:
1. BTC dominance lowering
2. Higher highs, higher lows
3. Multiple tests of resistance level
4. Trading above 100 & 200 MA
5. Trading above 20 MA
6. 20 MA just crossed 50 MA
7. 200 MA is moving up
8. Candle 21 April closed above 50 MA. Next green candle closed above high of that candle.
9. RSI divergence: RSI high is lower, price is higher (black lines)
10. Ascending triangle pattern
11. Rising OBV
What to watch for next:
1. Continuation of signs
2. Increase in volume
3. Break above resistance
Possible longer-term strategies/exits:
1. Hold at least until after V3 update in May
2. Assume ETH Upgrades are going to push ETH higher and pull up everything ETH based with it. See how that plays out.
3. Exit position when passed entry point and downtrend signals form
Feedback welcome!
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