$UNI wicked to 6.50 last night, about 8% off where it was trading near 7.07 a day ago, and the current 4h candle is bouncing back to ~6.77. On the NanoTrading Fire chart (4h) that whole 7.00-7.50 zone overhead is lit up with liquidation streaks, and the right-edge markers show roughly $53-62M stacked around 7.3-7.5.
The positioning is what makes me careful. Binance futures OI slipped from ~22.0M to ~21.6M contracts over the last day (about $143M now), so some leverage got cleaned up, but top traders are still ~80% long by position and global accounts ~59% long. Funding is flat to slightly negative. Lots of people still leaning one way.
My plan: this bounce has to reclaim 7.00 on a 4h close before I trust it, and 7.3-7.5 is where I'd expect the real fight. Lose 6.50 again and I think $UNI goes looking for liquidity lower, especially if $BTC stays soft 👀
Do you think 6.50 was the flush, or are those crowded longs the next fuel?
NFA, just how I'm reading it.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#UNI #Uniswap #NanoTrading
The positioning is what makes me careful. Binance futures OI slipped from ~22.0M to ~21.6M contracts over the last day (about $143M now), so some leverage got cleaned up, but top traders are still ~80% long by position and global accounts ~59% long. Funding is flat to slightly negative. Lots of people still leaning one way.
My plan: this bounce has to reclaim 7.00 on a 4h close before I trust it, and 7.3-7.5 is where I'd expect the real fight. Lose 6.50 again and I think $UNI goes looking for liquidity lower, especially if $BTC stays soft 👀
Do you think 6.50 was the flush, or are those crowded longs the next fuel?
NFA, just how I'm reading it.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#UNI #Uniswap #NanoTrading