UNIBTC trade ideas
UNIBTC strong momentumBINANCE:UNIBTC have retraced after strong uptrend, a nice entry would be at the golden line.
I would be carefull to invest into Uniswap because its 1bil supply , true is that its being released slowly during 4 years but that does not make it attractive for me long-term.
Nice profits can be made trading 0.5 fib support and resistance
✳️Uniswap/BTC (13-10) #UNI $UNI #UNIBTCUNI is heading to 38000-40000sts and it may finish this target in next days. This level is really important because if it broken, we will see the 50000sts soon.
We can buy it around 30000sts for a small bag and then buy more if it drops to 26500sts
This plan will be invalid if it drops below 24000sts
Symmetrical Wedge FormationA breakout can soon happen in either direction as a Symmetrical Wedge Formation formed. Also pay attention to the narrowing Fibonacci Bolinger Bands which also indicates the same.
Personally I think UNIBTC pair is much more indicative than UNIUSDT as UNI follows BTC path unless some individual significant movement occur.
It just reflects it with a coefficent so generally speaking when BTC price rise, UNIBTC price rise, which increases gains in UNI more than BTC. However the opposite is also true.
So trading UNI is like trading BTC on a margin + Risks in DEFI space.
Best of luck...
UNIBTC - Can we break major descending channel?After the break of two small channels and a growth of 30%, we have now entered a new level of price and we are faced with resistance of the main downtrend channel.
Facing the main channel while not corrected .. Is it capable of breaking the descending channel authoritatively? Or will it go to lower levels for a correction?
UNI/BTC retest of resistance (previous support) ?Its looking like UNI/BTC aim to test previous support turn resisance now
Around 0.00035-0.00038 we should looking carfully at that level
1- if price can hold above then we can see nice move more upward and will look for buy position on pullback
2- if it hit resistance and re-tracement happen to down again then it can be a good sell position
CrossroadsLong awaited retracement (from bottom) started. As far as it lasted, seems strong but it also takes its power from the rise of BTC. Therefore any trend reversal on BTC will highly effect the road it will follow.
This is not an investment advice so please always DYOR.
Kindly click like for more comments & good luck.
UNI/BTC (Bearish Key Support Break?)💎Technical Analysis Summary💎
BINANCE: UNIBTC
-UNI broke key support area and retested as a new resistance zone
-This is looking Bearish in the midterm in terms of price action
-If this small Bear flag confirms the downward direction
-The next key area of support is located at 29000-27000 sat
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