Very much the beginnings of an impulse, coming right back up now with a pattern of higher lows. I am watching this space, yet reluctant to call any targets yet.
The current situation:
1. A bullish symmetrical triangle is apparent on the 4HR chart while the price action is near the apex of the triangle. The chance of breaking to the upside is 60% and the measured target is about 11.6 USD
The bearish case: if the price action closes below the 4HR 21MA and below the bottom trend line, then lower price action is...
UMABTC | Strong drops lead to strong growth.
Today UMABTC printed a very strong 100% candle... We can also see really high volume.
About UMA
UMA describes itself as a protocol for building synthetic assets. It aims to allow users to write self-enforcing smart contracts with economic guarantees. UMA is designed to power the financial innovations made possible...
UMA is still in its bearish wave and it's not worthy to bet on just a little. We will wait for the price action at 750sts (if happens).
- If it breaks the 750sts zone, it will keep going up to 850sts
- If not, it will turn back to 650sts then find another opportunity to pump up
The reason why we shouldn't buy it is the super big volume of previous dumps, I think...
The current situation:
1. There is currently a double bottom apparent on the 4 and 6HR chart. The neckline of the pattern is at about 12.15 and the measured move is about 14 if it plays out. Do note that the measured move may not be reached however. It is also currently under most moving averages and they are acting as resistance so it may be a bumpy ride back up...
POLONIEX: UMAUSDT
-UMA is trading inside a descending channel after a series of rejection at the trendline resistance
-It is also trading just above the previous support area at 12-11 dollars
-If this immediate support level will hold and see a channel breakout
-That is a good potential entry point for upside continuation up to 26 dollars
-But if this level...
