COULD UNISWAP BE A HIDDEN GEM WITH HUGE ROI? TRIPLE DIGITS!?!?Merry Christmas!
Today we look at the trading pair, UNI/USDT
UNISWAP saw a lot of growth since it's listing last september up until it's ath earlier this year.
Currently sitting at the .236 fib support, looks to be in accumulation phase.
However, I don't think this is the bottom.
Taking out our Fixed Ranged Volume Profile tool, drawing from listing to current price, we have our PoC (Point of Control) down at the .618 fib support and backed with a lot of volume traded at that area.
Blue Horizontal zones are DCA zones to grab a few.
Should .382 be the bottom, we could shoot up to the 1.5 fib resistance, (marking it as a First Wave Extension, meaning 5th wave will be the shortest and the 1st the longest)
Should 0.5 be the bottom, we could shoot up to the 1.618 fib resistance,
Should 0.618 be the bottom (which i think it would or the 0.5/PoC), we would most likely go to the 1.786 resistance and past assuming the wave count is valid (Count not shown for clarity reasons). should this 3rd scenario play out, it will therefore be interpreted as a Third wave extension making it longer than the first as shown in the chart (meaning thirdwave will be the longest).
OR
this idea is completely wrong and we just nuke below the .618 and back to its opening price, coz for some reason, people dont value technicals when it comes to AMM's and DEX's and prefer the fundamentals instead, which after some research and several arguments (more like lectures actually) has some logic to it.
That said, this trade is purely experimental and for documentation/research purposes only.
Invest at your own risk!
Same goes for the SUSHI post as well which is linked below btw
If you agree with this idea, pls leave a like and your thoughts in the comments section.
Feedback is always appreciated.
