🔥 UNI/USDT – Approaching Key Short Zone
Uniswap (UNI) has formed a rising wedge structure after rebounding from local lows. Price is now nearing a critical short zone around 5.762 – 5.804, where sellers could potentially step in if UNI fails to break above with conviction.
🟣 Zone to Watch
“Possible Short Zone” (in purple) — a high-probability entry area for short trades given the overhead resistance and wedge convergence.
🔴 Entry Points:
Entry 1: ~5.762 (initial level)
Entry 2: ~5.804 (upper boundary)
📉 Momentum & Setup
Chart Formation: The rising wedge often suggests bullish exhaustion; a decisive break below wedge support can signal a bearish shift.
Volume Consideration: Look for a sell-volume uptick or a clear rejection around 5.70 – 6.2 to confirm the short setup.
🟢 Take-Profit Zones
✅ TP1: ~5.549
✅ TP2: ~5.315
✅ TP3: ~4.957
✅ TP4: ~4.244 (Extended downside if momentum persists)
❌ Invalidation Level: 6.265+
(A strong close above this level indicates a bullish breakout from the short window.)
🧠 Narrative
This setup highlights a possible bearish retest, as UNI’s rebound has propelled price into a narrowing wedge near major resistance. Should buyers fail to push beyond 5.70, aggressive sellers may anticipate a correction. A volume-backed rejection here could see UNI retrace to lower support levels.
🎲 Market Context
Monitor broader crypto sentiment and Bitcoin’s performance; strong market momentum could negate the bearish bias, while a market-wide pullback may accelerate downside.
📌 Risk Management
Position Sizing: Adjust to your risk tolerance and never overexpose.
Stop-Loss: Place it above 6.265+ to avoid unexpected breakouts.
Remain flexible and reevaluate if price action shows continued strength above the wedge.
Uniswap (UNI) has formed a rising wedge structure after rebounding from local lows. Price is now nearing a critical short zone around 5.762 – 5.804, where sellers could potentially step in if UNI fails to break above with conviction.
🟣 Zone to Watch
“Possible Short Zone” (in purple) — a high-probability entry area for short trades given the overhead resistance and wedge convergence.
🔴 Entry Points:
Entry 1: ~5.762 (initial level)
Entry 2: ~5.804 (upper boundary)
📉 Momentum & Setup
Chart Formation: The rising wedge often suggests bullish exhaustion; a decisive break below wedge support can signal a bearish shift.
Volume Consideration: Look for a sell-volume uptick or a clear rejection around 5.70 – 6.2 to confirm the short setup.
🟢 Take-Profit Zones
✅ TP1: ~5.549
✅ TP2: ~5.315
✅ TP3: ~4.957
✅ TP4: ~4.244 (Extended downside if momentum persists)
❌ Invalidation Level: 6.265+
(A strong close above this level indicates a bullish breakout from the short window.)
🧠 Narrative
This setup highlights a possible bearish retest, as UNI’s rebound has propelled price into a narrowing wedge near major resistance. Should buyers fail to push beyond 5.70, aggressive sellers may anticipate a correction. A volume-backed rejection here could see UNI retrace to lower support levels.
🎲 Market Context
Monitor broader crypto sentiment and Bitcoin’s performance; strong market momentum could negate the bearish bias, while a market-wide pullback may accelerate downside.
📌 Risk Management
Position Sizing: Adjust to your risk tolerance and never overexpose.
Stop-Loss: Place it above 6.265+ to avoid unexpected breakouts.
Remain flexible and reevaluate if price action shows continued strength above the wedge.
Telegram: t.me/Crypto_Sheykh
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.
Telegram: t.me/Crypto_Sheykh
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.