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UMA / TetherUS

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UMAUSDT trade ideas

UMA/USDT trend reversal ANALYSIS 🔎 - UMAUSDT was printing a falling wedge pattern. - This is a bullish reversal pattern. - Price brokeout above the falling wedge's resistance. - Price retraced and tested the 0.618 fibonacci retracement level. - Price action is currently printing an ascending triangle pattern. - This is a bullish build up pattern. - There's a breakout potential. BUY ENTRY ⬆️ - Aggressive (risky): current market price (now). - Conservative: breakout above the ascending triangle's horizontal resistance. TARGETS 🎯 - Horizontal resistance level (R1). - Horizontal resistance level (R2). SETUP INVALIDATION ❌ - Breakdown below the ascending triangle's inclined support.
Long
by yusufomerfx
UMAUSDT (UMA) - POTENTIAL BUY ENTRY ANALYSIS 🔎 - UMAUSDT was printing a falling wedge pattern. - This is a bullish reversal pattern. - Price brokeout above the falling wedge's resistance. - Price retraced and tested the 0.618 fibonacci retracement level. - Price action is currently printing an ascending triangle pattern. - This is a bullish build up pattern. - There's a breakout potential. BUY ENTRY ⬆️ - Aggressive (risky): current market price (now). - Conservative: breakout above the ascending triangle's horizontal resistance. TARGETS 🎯 - Horizontal resistance level (R1). - Horizontal resistance level (R2). SETUP INVALIDATION ❌ - Breakdown below the ascending triangle's inclined support.
Long
by Chibuike_Odoh
UMA bull flag turned into a triangleAt 1h and 4h timeframe the bull flag has turned into a triangle while at daily timeframe it's still a bull flag. I personally would prefer it would work as a daily bull flag because the potential target would be sooo good but meanwhile I wanna stay realistic and watch at the more possible gain: the triangle! Target is shown on the chart. Notice I've drawn the base of the triangle based on the volumes so it's either the first yellow dashed line (more possible) or the second (I hope not). The red dashed line is the point where many people entered the trade since the bull flag/triangle was forming. Off course everything going bad in the market is BTC's faults
Long
by Shotokhan
4
Bull flag is still thereI've tried to do a video idea but I don't know why I couldn't upload it. Anyway I wanted to explain why I was bullish on this last night. I'm the first victim of my last night idea because I've entered between 33 and 34USDT but it was a false breakout, moreover on my defence it was difficult to foresee that BTC would start behaving like it did last night (UTC +1). Up to last BTC pump alts followed it, last night instead it behaved like it used to do in a certain period between 2017 and 2018 draining money from alts. As a matter of facts most of the alts I'm following are at loss this morning. Bummer! Anyway, as you can see the bull flag strucure is still there and in this second part the chart hast tested more than once the upper level of the flag. My idea is that if volume spike up and BTC stops draining money from alts we should be able to get out of this. My advice is: do not panic sell! I've been there multiple time, I still struggle to control my emotions but trust me when I say that panic buys and sells rarely take to profits. In a bull season you do not have to sell unless, for some reason, only the coin you're into is plummeting while all others pump. In that case there isn't a general drop and then you've to save your profit. But in this case a lot of coins, among which the most famous, dropped which means the dump was generalized. So, do not lose money, do not panic sell. Summary: as soon as BTC go quiet and UMA volume goes up we should recover our loss and even make profit.
Long
by Shotokhan
7