✴️ Uniswap vs Tether (Think Long-Term For Success)I have to admit that this is basically the same chart as the BTC pair, UNIBTC.
We are looking at Uniswap vs Tether, UNIUSDT.
This pair hit bottom in June 2022 with the week closing in a Doji with the highest buy volume ever at the time, then an even bigger volume session/week in August... This is how the market seals the bottom, very strong buying right after the low is hit.
A famous investor and trader says that the financial markets are a mechanism to transfer wealth from the impatient to the patient.
I tend to agree.
When trading spot, just buying Altcoins, any mistake can be corrected through a long-term wait.
If you buy a pair expecting a rise and it doesn't happen, waiting can fix any and all mistakes... But if one is impatient, a loss can be sealed by selling lower than the entry point.
And the worst experience of all, right after you sell at a loss, prices start to grow.
UNIUSDT as its counterpart UNIBTC has been undergoing consolidation for many months after the initial breakout in June 2022.
A higher low was hit in November 2022 compared to June.
And since the July peak we have over 7 months of consolidation...
Think of this, or better yet, look at past history from May 2021 to June 2022.
The bearish trend is quite easy to spot.
The bear market is quite easy to read, lower highs and lower lows.
We have no new lows in almost 9 months... This is the accumulation phase, when whales, smart people, experienced traders and institutions load up on their favorite coins.
Once the accumulation phase is over, the next cycle starts to form.
The give away is the high buying volume after the June 2022 low and the fact that we have no new lows after 9 months when in the past a new low would be hit every few weeks.
We also have an ABC correction, if you saw my Bitcoin Elliot Wave Theory trade idea, you know what follows next.
It is a system to transfer wealth from the impatient to the patient, knowing this... What will you do?
Buy and hold or jump from pair to pair?
My money is on the hold... I am thinking long-term.
Think long-term. 1-2 years into the future.
Namaste.
P.S. When the next bull-run comes we will see new All-Time Highs all across, the amount of growth that we will experience, the numbers, will be much more than anything anybody can imagine at this point.
