$UNI - possible breakout

22 Sep 2020

Good chance this gets ruined by BTC dump, but I can see this working. Sell pressure seems to be thinning out and Uniswap 3 is going to launch in the next few weeks.

23 Sep 2020

Nota

UNI is out of the sad channel it was occupying, but nothing much is happening just yet, perhaps due to the horrible market weather.

It's looking like a short term bottom to me - if BTC dumps it could still plummet to the dreaded 3.45 level, but if BTC behaves, it could start to change direction.

Will continue to observe. The PURPLE LEVEL seems to be important to break to see a change in direction, I put this in yesterday and note how the price has continued to fight against it while I was asleep.

23 Sep 2020

Nota

BOOM.

Well there you have it, a big move up to 4.8.

As I predicted, that purple line was completely decisive - as soon as we crossed it the price shot up.

I didn't have the confidence to get in this trade with BTC in such a dodgy place, but I am happy to see this downtrend decisively broken.

Now the question is whether it can break the 4.8 resistance. I predict a few touches over the next few days and then we're potentially laddering back up to the $6 area.

I might set a bid around the middle of this move with a stop loss... I expect the bulls to pull back, then have another shot at this resistance.