UNIUSD trade ideas
UNI/USD 4h 2 out of 4 Forecasts Worked. How about ATH?Two out of four of my forecasts for UNISWAP worked quite well.
I do not expect the fifth one to be 100% precise in terms of the dates, but form the standpoint of support and resistance levels I'm pretty sure we will the ATH relatively soon.
What's your take on this? Please let me know in comments.
This is not an investment advice as I'm not a financial advisor.
Make your investment decisions at your own risk and perform your own researches.
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Uniswap 2.17.21This things is holding very well. One of the best holders of the bluechips. I'm a bit concerned on the structure as i cant tell if its creating a rounded top like aave did where it sells off harder then expected. For now its still holding the 21dema and in some sort of channel or ascending structure i honestly dont know. I do like the large wicks where its bought up. I'm looking to see it break 24.5 and if not then pull back to support and stay there for a few more weeks.
UNI, last trade invalidated, potential new trade in playUNI saw a reverse H&S pattern before getting rejected at the $22 range which seems to be THE resistance point. I've kept my last trade idea in play so you all can see that it failed to breakout of the asym triangle pattern. What I'm seeing now is a potential Cup and Handle play forming. I kept the price target the same as my last chart pattern. I think UNI is struggling because of the BTC run and ETH run along with ETH gas fees being LUDAAAAcris.
Quick Uni analysisEveryone has been waiting on Uniswap, as it has sort of fallen into a consolidation pattern with no really big moves in the past week. We might be extremely close to a big breakout, as we can see that Uni has broken an ascending triangle on the hourly chart (typically bullish). We can also see a decent cup and handle formation that is begging for a breakout. Lastly, Uni just tested the $22.5 level in the last candle for the first time in two days. If you go back to Feb 05, you can see that this is a historic level. If the bulls can apply a little more firepower and push Uni through the $22.5 level, we should have a field day. Catch up, Uni!
UNISWAP- Double Bottom or Head & Shoulders. We'll find out soon!I'm picking up on a nice new continuation pattern that can send UNI forward further. Yes it has 4x'd the past 2-3 weeks. But its not done. Its adoption rate has been phenominal and its continuing to develop new use cases.
So this looks like a nice double bottom at 17. Resistance to break is local high 19.8
Very deciding development here.
I'm holding but i'm also buying more if it breaks above 19.8 with support and volume.
I'm selling below 17 because it would complete a pretty well formed head and shoulders (reversal) pattern.
I'm 60/40. Our btc-eth-alt cycle is a little out of wack because eth beat a few alts to the ATH party. That said i think this plays out better for ALTs but UNI is one of those alts that DID beat ETH to the ATH party.
SUMMARY-
60% UNI breaks through and holds 19.8 for support. From there its going to $25.
40% it doesn't, confirming head and shoulders. I'm not going to guess a bottom because it hasn't stopped to look back very often from $3 to $19.
100% certain there is signifigant movement (+/- 10-15%) in the next 24hrs.
Not a professional advisor. Just like to write down my ideas and observations for personal reference.
And i'm right 100% of the time...most of the time.