- UMAUSDT brokeout above the horizontal resistance level and hit an ATH
- Price then retraced for a retest of the flip horizontal support and 0.618 fibonacci retracement level.
- RSI is printing a bullish divergence signal (BDS 🔼).
- The retracement is bounded in the falling wedge pattern.
- A falling wedge pattern is a bullish reversal pattern.
- UMAUSDT is printing a falling wedge pattern.
- This is reversal pattern.
- A bullish pattern to be precise.
- Price action is printing the double bottom pattern.
- This is also a bullish reversal pattern.
- RSI is printing a bullish divergence signal.
- Price is testing the falling wedge's resistance and double bottom neckline resistance.
UMA has the set up for a high and tight flag pattern but has not confirmed breakout yet.
If breakout does occur above the top of the flag pole there is potential for a 300% increase in price.
One worth watching.
- UMAUSDT was printing a falling wedge pattern.
- This is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance.
- Price retraced and tested the 0.618 fibonacci retracement level.
- Price action is currently printing an ascending triangle pattern.
- This is a bullish build up pattern.
- There's a breakout potential.
We have relatively recently crossed the resistance (dotted blue) and have confirmed a pivot. We are going up on this one most surely. I am refraining from drawing target, as it's currently not too clear, but soon will be. As always,don't be stupid, this is not financial advice.