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Uniswaptoken

Failed breakout but another retry looks to be on the wayThe current situation: 1. Yesterday, 9/24, price action attempted to break out of the ascending triangle as shown but had failed and got rejected at about 5.55 USD. Now it has retreated back to the 1HR 50MA at about 5 USD as support and the bottom trend line is now adjusted for a bigger ascending triangle. If price action breaches the 1HR 50MA, the next level of support is the 4HR 21MA followed by the 6HR 21MA. A complex head and shoulders pattern also apparent on the 1HR chart, so this should be paid attention to in case the bulls do not hold up the price. Looking at the price action from the 6HR chart, this is still appears to be a bullish setup as price action broke the 21MA and now is retesting it as support. The resistance to break is still the FIB level at about 5.25 *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
COINBASE:UNIUSDLong
by CryptoRush_
3
Breakout looking more promisingThe current situation: 1. Price action has broken out of the falling wedge and now has formed an ascending triangle subpattern. The measured target of the breakout from the ascending triangle, at about 6.5 USD, is still within the breakout range of the bigger falling wedge, at about 7.3 USD There is no other moving average acting as overhead resistance at this time as price action is above all moving averages available to show at this time. Therefore, FIB levels (gold lines) are the resistance to be paying attention to in my opinion. 2. RSI is not overbought in any of the hourly timeframes, so there is room to run if price action trends upwards. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
COINBASE:UNIUSDLong
by CryptoRush_
6
Fakeout or a real reversal to the upside?The current situation: 1. Price action had previously broken out of the falling wedge at about 4.3 USD with the measured target to be about 7 USD. After breaking out, the price action was rejected at the 6HR 21 moving average at about 5.4 USD. It has found support back at the 0.786 FIB level at about 4.3 USD. There is also a POSSIBLE head and shoulders pattern on the 1HR chart. If the next high does not close above 4.90 USD, that could make the right shoulder and spell bearish action in the short term. BTC dominance is also trending up, which can signal that altcoins can go lower. However, UNI was possibly one of the few, if not the only altcoin that has made a gain today. But it is still something to be careful of. 2. There was bearish divergence on the 1HR chart preceding the rejection at 5.4 USD and now RSI is in neutral territory on all available timeframes, so price action can go both ways. The bullish case: 1. Price action needs a solid close above the 6HR 21MA, to make a convincing case it can go higher. The next resistance level above that would be the 0.5 Fib level at about 6 USD. The bearish case: 1. A close below the 0.786 Fib level would be bad signal for the bulls and can indicate more downside to come as this breakout would not be considered successful. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
COINBASE:UNIUSDLong
by CryptoRush_
EYEING this indicator before getting back inThe current situation: 1. Price action has been in this falling wedge since reaching the previous high and it has not gotten on top of the 1HR 50 moving average since. The 1HR 21 moving average is flattening out, which looks like signal for a reversal. In the area of the possible breakout, it an ascending triangle does seem to be forming, which is a bullish pattern. However, I would look for price action to close on top of the 1HR 50 moving average before being convinced there is a reversal. Nevertheless, the market is looking quite bearish so even if this reverses, I would still be careful especially if there is a move downwards in BTC. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. *These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
COINBASE:UNIUSDLong
by CryptoRush_
UNISWAP soon ready for BULLISH MOVE - (Near Demand Zone)#UNISWAP TA Update:- 1. #UNISWAP now trading at 73098 sats, and converging into a falling wedge. Falling wedge ends with a Bullish move. So 1st Confirmation is Falling Wedge. 2. Also UNISWAP is approaching Demand Zone which is at daily support. The daily support level at 29552 is going to be tested 1st time, so 90% chances are the rejection. 3. There is a Volume Divergence. Price is decreasing but there is no Selling volume, indicates the weak hands are selling but the whales are accumulating slowly. Also, downtrend must be supported with large volume. Since there is less selling volume, so there are high chances that UNISWAP is going to Move upward from Demand Zone. Daily Support: 29552 (Demand Zone) 4h Support: 21503 (Below That You can put Stoploss or Average Out In worst Case) Confirmation For Uptrend: Falling Wedge ----- Approaching Demand Zone ----- Volume Divergence Always implement Risk Management. Don't Invest All. Invest 10-15% of capital, then in case price dumps, invest rest 10% to average out. For averaging out, put orders atleast 15% below your buying price to properly average out. Thanks. Please give a like to this post. Thanks.
Long
by SmartMaxi
Continuing downwards or breakout of THIS pattern?The current situation: 1. Price action has been continuing in this falling wedge as seen on the hourly chart and has bounced off the 0.786 FIB level at about 4.4 USD. There is also a double bottom apparent with the neckline at about 4.6 USD. The measured target for the double bottom pattern is about 5.05 and the measured target for the breakout of the falling wedge is about 7.55 USD if broken out of the point indicated. Do note that price action may not reach its measured target however. 2. There is not exactly bullish divergence on the RSI though, but we will see if this actually reverses back up from this point. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too. * These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
COINBASE:UNIUSDLong
by CryptoRush_
4