✴️ Uniswap Long-Term Chart (Market Cycles Explained)Starting June 2022 through October 2023 is the consolidation phase... Let me show you the chart without the logarithmic scale, it shows quite clear what I mean.
See what I mean?
It is basically flat after the bull/bear market.
This type of action always precedes a new trend.
The question would be: Which way is it going, down or up?
After the major bull market a strong bear market (long-term correction) followed.
The market moves in cycles.
We have the bull market, one cycle. Then the bear market, another cycle...
Consolidation is kind of a pause... After the bear market we get a bull market as the next cycle.
This works for Cryptocurrencies of course, others assets can be different, we are not concerned with those.
Next question: Does the chart provide clues for the next direction?
Yes it does!
Follow me my friend, boost and comment as we dive deeper into this chart.
➖ Last week UNIUSDT produced the highest volume since May 2021, so buying has been turned on.
➖ This week UNIUSDT is already trading above EMA21 and EMA10, so the potential is now favoring the bulls.
➖ The RSI is about to hit 50 (bullish) with prices being really low, near support.
All these are bullish signals that support a bullish move, a bullish trend.
Thank you for reading...
Thanks a lot for your continued support.
Namaste.
