UNISWAP → Dropping to $4.80? Let’s Maximize Your Profits!

Uniswap has had two major sell signals followed by a drop below the Daily 30EMA. We're now staring at the 200EMA and the $4.83 support, should we short here?


How do we trade this? 🤔

UNISWAP → Dropping to $4.80? Let's Maximize Your Profits!

It's reasonable to short in this area o the 4HR or Daily chart. Use a small position size since we're a ways into the fall from the high, set a stop loss above the 30EMA and go for a 1:2 Risk/Reward Ratio down to the $5.20 area.

The price action is currently playing out a kings crown pattern; a massive bull candle, rough head and shoulders top, and a a massive bear candle retesting the support the bull candle started on.


💡 Trade Ideas 💡

Short Entry: $5.80
🟥 Stop Loss: $6.10
✅ Take Profit: $5.20
⚖️ Risk/Reward Ratio: 1:2


🔑 Key Takeaways 🔑

1. Fell out of Bull Channel, Trend Reversed.
2. Fell below Daily 30EMA.
3. Gap to 200EMA and opening of Large Bull Bar.
4. RSI at 46.00 and below Moving Average, Bias to Short.
5. Watch for Bitcoin Trend Change at $46,000.


💰 Trading Tip 💰
The 30EMA and 200EMA ribbons are reliable support and resistance levels. They will often line up between timeframes.


⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!


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