Bitcoin broke below last night's low again this afternoon, but UNI didn't follow: its low today was 6.88, more than 0.20 higher than yesterday's 6.66.
Quick recap: This morning's 9 a.m. post said to wait and see—turn bullish only if it gets above 7.2, and the bottom is confirmed if it holds 6.77 on a retest. Over these nine hours, it has moved between 6.88 and 7.11, touching neither level. It's now at 6.99U, and the view is still to wait and see—unchanged.
But it's worth noting that while Bitcoin is weak, UNI isn't following it down. Yesterday afternoon, UNI plunged along with Bitcoin; when Bitcoin plunged again this afternoon, UNI only dipped to 6.88, with clear buyers stepping in below.
However, volume is shrinking. The 24-hour trading volume has fallen from $410 million this morning to $360 million, and there aren't many people trying to push it higher either. Basically, neither side is in a hurry; everyone's waiting for tonight's 9:30 p.m. CPI release to set a direction.
The same three levels still apply: only turn bullish above 7.2; hold 6.77 and the bottom is confirmed; if it breaks below 6.66, stay away for now.
Before the CPI comes out, take a guess: will UNI hit 7.2 first tonight, or 6.77? #UNI $UNI
Quick recap: This morning's 9 a.m. post said to wait and see—turn bullish only if it gets above 7.2, and the bottom is confirmed if it holds 6.77 on a retest. Over these nine hours, it has moved between 6.88 and 7.11, touching neither level. It's now at 6.99U, and the view is still to wait and see—unchanged.
But it's worth noting that while Bitcoin is weak, UNI isn't following it down. Yesterday afternoon, UNI plunged along with Bitcoin; when Bitcoin plunged again this afternoon, UNI only dipped to 6.88, with clear buyers stepping in below.
However, volume is shrinking. The 24-hour trading volume has fallen from $410 million this morning to $360 million, and there aren't many people trying to push it higher either. Basically, neither side is in a hurry; everyone's waiting for tonight's 9:30 p.m. CPI release to set a direction.
The same three levels still apply: only turn bullish above 7.2; hold 6.77 and the bottom is confirmed; if it breaks below 6.66, stay away for now.
Before the CPI comes out, take a guess: will UNI hit 7.2 first tonight, or 6.77? #UNI $UNI
