UNI IS UP +15%—BUT NOW IT’S RUNNING STRAIGHT INTO THE BAGHOLDER SUPPLY ZONE.
$UNI has accelerated sharply on the daily chart, with price pushing toward $9 after breaking above the previous ~$8.1 resistance. Momentum is clearly strong, but this is also where the easy part of the move may end.
Wyckoff: the structure from the ~$2.3–$4.7 base shows a major transition from accumulation into Markup. The recent expansion above the ~$5 area and then $8.1 resembles a strong Sign of Strength, but price is now entering an old distribution area where significant historical supply remains.
SMC: bullish displacement has cleared multiple previous highs, leaving the daily structure firmly bullish. However, $8.1–$10.3 is now the critical supply zone. This is where traders trapped during the previous cycle finally have an opportunity to exit around breakeven.
🟢 Bullish setup: continued daily acceptance above $8.1 keeps the breakout alive. The next major objective is the Weak High around $10.3. A clean break and successful retest above $10.3 would suggest that old supply has finally been absorbed.
🔴 Bearish setup: failure to sustain above $8.1–$9 followed by bearish CHoCH/displacement would suggest trapped-holder supply is overwhelming fresh demand. In that scenario, a deeper retest toward the previous breakout structure becomes increasingly relevant.
Status: BULLISH — BUT ENTERING HEAVY HISTORICAL SUPPLY.
The +15% candle is not the most interesting part.
The real test is whether new buyers can absorb everyone who has been waiting months to sell between $8.1 and $10.3.
$UNI has accelerated sharply on the daily chart, with price pushing toward $9 after breaking above the previous ~$8.1 resistance. Momentum is clearly strong, but this is also where the easy part of the move may end.
Wyckoff: the structure from the ~$2.3–$4.7 base shows a major transition from accumulation into Markup. The recent expansion above the ~$5 area and then $8.1 resembles a strong Sign of Strength, but price is now entering an old distribution area where significant historical supply remains.
SMC: bullish displacement has cleared multiple previous highs, leaving the daily structure firmly bullish. However, $8.1–$10.3 is now the critical supply zone. This is where traders trapped during the previous cycle finally have an opportunity to exit around breakeven.
🟢 Bullish setup: continued daily acceptance above $8.1 keeps the breakout alive. The next major objective is the Weak High around $10.3. A clean break and successful retest above $10.3 would suggest that old supply has finally been absorbed.
🔴 Bearish setup: failure to sustain above $8.1–$9 followed by bearish CHoCH/displacement would suggest trapped-holder supply is overwhelming fresh demand. In that scenario, a deeper retest toward the previous breakout structure becomes increasingly relevant.
Status: BULLISH — BUT ENTERING HEAVY HISTORICAL SUPPLY.
The +15% candle is not the most interesting part.
The real test is whether new buyers can absorb everyone who has been waiting months to sell between $8.1 and $10.3.
