"UNI is stuck in a triangle. Perhaps the best solution would be to stay out of action.
But if you choose a side, then it is better to join the bulls."
The coin is in a huge triangle and is now trading at its lower border, which is dynamic support.
Triangles are not the easiest patterns to trade, the probability of the price going up or down is usually 50\50, which ultimately does not give us an advantage.
But let's take a closer look at the chart and perhaps some aspects will bring some clarity to what is happening.
As mentioned earlier, we are trading at the dynamic support line, and if the price updates the nearest local minimum of $ 18 (marked with a red checkmark), we can only be held by the demand area around $ 14 ( the red level on the chart).
If the price consolidates below this level, then it is unlikely that something will be able to hold us back from further falling down to the area of $ 5. This conclusion can be made based on the fact that we do not see any liquidity zones where the price could stop. The nearest such liquidity zone is just in the region of $ 5 (circled in a gray rectangle) in total it is minus 80% of the current price.
This scenario is quite reminiscent of a bearish phase, but so far the market has definitely not entered it. In other words, conditional buying while the price is still being held is more interesting with all things being equal.
But if you believe that UNI is ready to enter this dive, then it is better to wait at least when the price updates the minimum marked with a red checkmark, then the pressure from the supply side will be much greater and there will be every chance to go below the level marked by the red line.
As a result, buying from the current ones is very risky, but if the market continues to grow and the triangle is realized upward, the coin will obviously not have a problem updating the historical maximum.
At the same time, it is worth considering the risks, since the fall can be very significant. So that is not the best time to buy and hold.
Maybe the option is to try your luck locally with risks below the local minimum marked with a red checkmark.
If you are in a bearish mood, you should wait for the local minimum marked with a red checkmark to update.
But if you choose a side, then it is better to join the bulls."
The coin is in a huge triangle and is now trading at its lower border, which is dynamic support.
Triangles are not the easiest patterns to trade, the probability of the price going up or down is usually 50\50, which ultimately does not give us an advantage.
But let's take a closer look at the chart and perhaps some aspects will bring some clarity to what is happening.
As mentioned earlier, we are trading at the dynamic support line, and if the price updates the nearest local minimum of $ 18 (marked with a red checkmark), we can only be held by the demand area around $ 14 ( the red level on the chart).
If the price consolidates below this level, then it is unlikely that something will be able to hold us back from further falling down to the area of $ 5. This conclusion can be made based on the fact that we do not see any liquidity zones where the price could stop. The nearest such liquidity zone is just in the region of $ 5 (circled in a gray rectangle) in total it is minus 80% of the current price.
This scenario is quite reminiscent of a bearish phase, but so far the market has definitely not entered it. In other words, conditional buying while the price is still being held is more interesting with all things being equal.
But if you believe that UNI is ready to enter this dive, then it is better to wait at least when the price updates the minimum marked with a red checkmark, then the pressure from the supply side will be much greater and there will be every chance to go below the level marked by the red line.
As a result, buying from the current ones is very risky, but if the market continues to grow and the triangle is realized upward, the coin will obviously not have a problem updating the historical maximum.
At the same time, it is worth considering the risks, since the fall can be very significant. So that is not the best time to buy and hold.
Maybe the option is to try your luck locally with risks below the local minimum marked with a red checkmark.
If you are in a bearish mood, you should wait for the local minimum marked with a red checkmark to update.