UniSwap UNIUSDT - double bottom reversal pattern
Updated
This channel is really nasty and steep. I did Elliot Wave count and i cannot help myself, there is still one wave (5) missing to the downside. I expect a double bottom trend revesral pattern, the price could make a new low to wipe out stop losses, but not significantly. Please let me know in the comment section, if you have some better ideas.
After this, ABC correction should be finished on 0.618 FIB retracement on LOG scale. Then i expect a trend reversal at least temporarily to 6.2 USD or to a new all time high, it is hard to predict now. We need more data later. For now i think it is better to not short this coin. Ripple looks so bearish and Link also...
If you find this technical analysis interesting, then you should definitely hit the like button and follow me for more of these ideas!
After this, ABC correction should be finished on 0.618 FIB retracement on LOG scale. Then i expect a trend reversal at least temporarily to 6.2 USD or to a new all time high, it is hard to predict now. We need more data later. For now i think it is better to not short this coin. Ripple looks so bearish and Link also...
If you find this technical analysis interesting, then you should definitely hit the like button and follow me for more of these ideas!
Note
I will enter a long position above 4.3 USD. "Stop market" buy on this level.Note
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.