$UNI - back to basics - a horizontal S and R chart

Trendlines aren't working for me with UNI, it really feels like this is toying between key levels, with a general push upwards due to the upcoming Uniswap v3 catalyst.

If USV3 were a disappointment (it's a possibility) or simply takes far too long to come around, for example still not here by EOW next week, then 3.8 is the place I would be loading up big time.

If USV3 is everything it's been hyped up to be by the Twitter morons then you'd want to see it blast into the 6's and the 5's would become a strong support zone.

This is a bit choppy and manipulated for me, I'm staying out of any trade on this until we see what USV3 has to bring, or until something significant happens on the chart (a strong break of 4.8 support would indicate a temporary 2nd down channel).

My bias is bullish mid to long term, that stimulus check and Uniswap's surge in volume and prominence is a narrative that still has serious life in it. Market weather is very dodgy, but that could simply create better buying opportunities.