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UNI sent BACK TO PRISON 🦄⚔

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📉Hi Traders, Investors and Speculators of Charts📈

UNI has dropped hard after a decent increase, taking the price back to accumulation level lows.

Losing ALL THREE moving averages in the daily is bearish for the short term:

This however presents an excellent opportunity for traders to re-accumulate at low prices before the next bullish impulse wave begins.
According to Eliot Wave Theory; as long as wave 2-3 does not retrace beyond wave 0-1 the cycle can still be considered bullish. Meaning, IF we drop any lower than the current point, we'll no longer be able to consider the price as bullish.

The WHITE lower trendline may be an indication of a buy zone:

I'm labeling this post as "long", not because I am taking a leveraged long but because the price is re-entering the accumulation zone/ buy zone (SPOT).

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