UNIUSD Two levels for a short-term buy
Uniswap (UNIUSD) has been trading within a Bearish Megaphone pattern since the December 02 2021 High. It has been in a Bear Cycle since the May 05 2021 High. At the moment the price is testing (and so far being rejected on) the 1D MA50 (blue trend-line) which is unbroken since April 10. Last time we saw a similar 1D MA50 rejection on a downtrend with the 1D RSI on the same pattern, was during the May 05 - July 06 2021 formation.
It was when the price got rejected on the 1D MA50 and formed straight after a Triple Bottom that eventually rebounded within the 0.618 and 0.786 Fibonacci retracement levels. It is possible that if the same pattern is repeated, it will make that Fibonacci test when the 1D MA200 (orange trend-line) is within. Right now we can only trade within the Bearish Megaphone, so either buy if the price closes above the 1D MA50 or if it makes a Triple Bottom within 3.60 - 3.35. The new Bull Cycle will most likely start when the price breaks above the Lower Highs trend-line from the All Time High.
--------------------------------------------------------------------------------------------------------
Please like, subscribe and share your ideas and charts with the community!
--------------------------------------------------------------------------------------------------------
It was when the price got rejected on the 1D MA50 and formed straight after a Triple Bottom that eventually rebounded within the 0.618 and 0.786 Fibonacci retracement levels. It is possible that if the same pattern is repeated, it will make that Fibonacci test when the 1D MA200 (orange trend-line) is within. Right now we can only trade within the Bearish Megaphone, so either buy if the price closes above the 1D MA50 or if it makes a Triple Bottom within 3.60 - 3.35. The new Bull Cycle will most likely start when the price breaks above the Lower Highs trend-line from the All Time High.
--------------------------------------------------------------------------------------------------------
Please like, subscribe and share your ideas and charts with the community!
--------------------------------------------------------------------------------------------------------
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.