UNI gives a false buy signal and a refusal on an expected level
Hello traders, UNI / USDT is in a medium term bearish trend with a low volume of sells.
It exited a downward channel from the top but no return of a buy volume.
Big potential of a fake buy signal we notice a pull back on the SMA200, then it can breakdown to come on its last support zone after the test of the SMA 200.
It is important to note that there is a bullish divergence on the RSI and a bearish one on the chart.
So strong possibility of breakdown on support to reach the level below.
These are not investment advice but recommendations for use.
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I hope you enjoyed it.
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It exited a downward channel from the top but no return of a buy volume.
Big potential of a fake buy signal we notice a pull back on the SMA200, then it can breakdown to come on its last support zone after the test of the SMA 200.
It is important to note that there is a bullish divergence on the RSI and a bearish one on the chart.
So strong possibility of breakdown on support to reach the level below.
These are not investment advice but recommendations for use.
Thank you for taking the time to read my analysis.
I hope you enjoyed it.
Comment your reactions in the space dedicated in description.
Please LIKE & FOLLOW, thank you!