A request for UST/USD
Updated
I am not interested in UST personally, but I've been asked to do a little analysis on it.
It doesn't look good to me.. on the daily is my bottom line ---- but I am wrong about things of course and this is crypto.
As for the specific request for a scalp; I can't see one. - I don't personally short the market. I just go long. So There could be shorts I'm not seeing.
(My shorts are taking profit on my longs essentially)
Reason I can't see a long scalp is there is we are in price discovery downwards. You shouldn't try and catch reversals when In price discovery - it's very risky to my mind. I also wouldn't suggest blindly investing as this 'stable coin' is anything but what it's supposed to be.
I don't know about the fundamentals of it either... Not sure if it's attached to Lunc or 'Luna-V2' e.t.c
But here is the bullish version of what I see - but again, I can't see where to put a stop. So I wouldn't be trying to trade this up down or sideways.
Not financial advise or trading advise - just sharing what I can/can't see for educational purposes.
It doesn't look good to me.. on the daily is my bottom line ---- but I am wrong about things of course and this is crypto.
As for the specific request for a scalp; I can't see one. - I don't personally short the market. I just go long. So There could be shorts I'm not seeing.
(My shorts are taking profit on my longs essentially)
Reason I can't see a long scalp is there is we are in price discovery downwards. You shouldn't try and catch reversals when In price discovery - it's very risky to my mind. I also wouldn't suggest blindly investing as this 'stable coin' is anything but what it's supposed to be.
I don't know about the fundamentals of it either... Not sure if it's attached to Lunc or 'Luna-V2' e.t.c
But here is the bullish version of what I see - but again, I can't see where to put a stop. So I wouldn't be trying to trade this up down or sideways.
Not financial advise or trading advise - just sharing what I can/can't see for educational purposes.
Note
The current low. (lowest ever price of UST) is 40% down. So I wouldn't want to be using that as a stop for a scalp. And daily just looks bad so I wouldn't want to try and swing trade it either... nor do I want to invest.Note
That said, Broken supports often get retested. So there is a possibility it goes back up to retest that. (and ofc it could break up and keep going) The 1h + 4h Div implies to me that the market might want to check out the broken support to make sure. Then if that becomes a S/R flip, down we go I would guess.
Note
Again from a kind of bearish perspective, the .382 could be a target as it's in the broken support box.
Note
^ That's if we don't create a new low first... as that would change the Fib levels.Note
ahhhhh what a fuckup. The chart I used is dead.I've been wondering why there's been no new candles (-_-)
So coinbase paused or delisted UST I guess.
Ignore this whole post.
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.