📉$UNFI Descending Triangle Pattern Alert!📉

Hey traders! 📈📊 Exciting updates on the $UNFI:USDT chart. 🚀 It seems a descending triangle pattern could be forming. 📉 This pattern features a horizontal support line and a series of lower highs, indicating potential downward pressure.

📌 Symbol: $UNFI:USDT
📅 Timeframe: Weekly
📊 Chart Pattern: Descending Triangle
🔍 Pattern Description: The descending triangle pattern consists of a flat support level and lower swing highs, often signaling a possible bearish continuation.

🚀 What to Watch: Keep an eye on the price as it nears the support level. A breakdown below the support line could lead to a potential downward move, possibly confirming the bearish sentiment.

🎯 Target Levels:

Short-term: Targeting the 50% retracement level around $7.40
Mid-term: Aiming for the 61.8% retracement level near $11.25
Long-term: Setting sights beyond the golden mean ratio to the 1.272 fib extension, potentially around $115 by the end of the 2025 bull cycle
🛑 Stop-loss: Consider placing your stop-loss just above the descending trendline to manage risk in case of a false breakdown.

📉 Indicators to Watch: Utilize RSI, MACD, and volume indicators to gauge potential confirmation of the pattern.

📈 Risks: Remember that trading involves risks, and the pattern might not always play out as expected. Stay updated on market news and adapt to changing conditions.

Trade with care! 📊📉💰 #TradingView #TechnicalAnalysis #DescendingTriangle #UNFI #TradeSmart

(Note: This is a fictional trading post and not financial advice. Always conduct thorough research and consult a financial advisor before making any trading decisions.)