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Uniswaplong

Breaking above THIS level can mean more bullish price actionThe current situation: 1. Price action has formed a double bottom on the 1HR chart, which is a bullish pattern with the neckline at about 4.45 USD and a measured target of about 4.75 USD. Currently, the 1HR 50MA and the 0.786 Fib level (the gold line) are acting as resistance. 2. There is bullish divergence on the 4HR chart so it could be a catalyst for a reversal IF it plays out. The bullish case: price action has to break above the neckline at about 4.45 USD, at which there will be an S/R flip of the 0.786 level. The bearish case: price action gets rejected at the 0.786 Fib level at about 4.35 and continues downward. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
COINBASE:UNIUSD
by CryptoRush_
5
Bearish pattern apparent watch out for this level of supportThe current situation: 1. A complex head and shoulders pattern is still apparent on the 1HR chart and price action has fell through the 6HR 21MA, which has been acting as strong support for the past few days since price action gotten on top of it. The neckline of the pattern is at about 4.7 USD and the measured target is about 3.8 USD. The next level of support if price action breaks down is the 0.786 Fib level at about 4.35 The bullish case: price action needs close back on top of the 6HR chart in order to start looking bullish again to retry the resistance at 5.25 The bearish case: price action breaks 4.7 and goes towards the Fib level at about 4.35 *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
COINBASE:UNIUSDShort
by CryptoRush_
2
Breakout looking more promisingThe current situation: 1. Price action has broken out of the falling wedge and now has formed an ascending triangle subpattern. The measured target of the breakout from the ascending triangle, at about 6.5 USD, is still within the breakout range of the bigger falling wedge, at about 7.3 USD There is no other moving average acting as overhead resistance at this time as price action is above all moving averages available to show at this time. Therefore, FIB levels (gold lines) are the resistance to be paying attention to in my opinion. 2. RSI is not overbought in any of the hourly timeframes, so there is room to run if price action trends upwards. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
COINBASE:UNIUSDLong
by CryptoRush_
6
Fakeout or a real reversal to the upside?The current situation: 1. Price action had previously broken out of the falling wedge at about 4.3 USD with the measured target to be about 7 USD. After breaking out, the price action was rejected at the 6HR 21 moving average at about 5.4 USD. It has found support back at the 0.786 FIB level at about 4.3 USD. There is also a POSSIBLE head and shoulders pattern on the 1HR chart. If the next high does not close above 4.90 USD, that could make the right shoulder and spell bearish action in the short term. BTC dominance is also trending up, which can signal that altcoins can go lower. However, UNI was possibly one of the few, if not the only altcoin that has made a gain today. But it is still something to be careful of. 2. There was bearish divergence on the 1HR chart preceding the rejection at 5.4 USD and now RSI is in neutral territory on all available timeframes, so price action can go both ways. The bullish case: 1. Price action needs a solid close above the 6HR 21MA, to make a convincing case it can go higher. The next resistance level above that would be the 0.5 Fib level at about 6 USD. The bearish case: 1. A close below the 0.786 Fib level would be bad signal for the bulls and can indicate more downside to come as this breakout would not be considered successful. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
COINBASE:UNIUSDLong
by CryptoRush_
UNISWAP soon ready for BULLISH MOVE - (Near Demand Zone)#UNISWAP TA Update:- 1. #UNISWAP now trading at 73098 sats, and converging into a falling wedge. Falling wedge ends with a Bullish move. So 1st Confirmation is Falling Wedge. 2. Also UNISWAP is approaching Demand Zone which is at daily support. The daily support level at 29552 is going to be tested 1st time, so 90% chances are the rejection. 3. There is a Volume Divergence. Price is decreasing but there is no Selling volume, indicates the weak hands are selling but the whales are accumulating slowly. Also, downtrend must be supported with large volume. Since there is less selling volume, so there are high chances that UNISWAP is going to Move upward from Demand Zone. Daily Support: 29552 (Demand Zone) 4h Support: 21503 (Below That You can put Stoploss or Average Out In worst Case) Confirmation For Uptrend: Falling Wedge ----- Approaching Demand Zone ----- Volume Divergence Always implement Risk Management. Don't Invest All. Invest 10-15% of capital, then in case price dumps, invest rest 10% to average out. For averaging out, put orders atleast 15% below your buying price to properly average out. Thanks. Please give a like to this post. Thanks.
Long
by SmartMaxi