LUNA - Onward Upward
Happy New Years to ALL.
LUNA is doing a nice ABCDE thing and has been in the “CD” phase since Dec 26 when the RSI clearly indicated “C” was the top (the fat red arrow up top & the yellow line in RSI section).
“C” also corresponded with PA reaching the upper edge of a diverging wedge pattern its been traveling in since Aug (indicated with the 2 blue trend lines).
The pullback was perfect to the 78% FIB level (“D”) of $63. Since beginning Jan RSI indications have been showing a trend change from down to levelling which again corresponds with PA reaching the bottom of the pull back. It spent some time accumulating in the range market area of $69-71. I think BTC bouncing from 44k to 39k and back isn’t helping matters of accumulation.
Now if BTC would just settle down and stop dumping 2k a day, I believe LUNA will continue on its next leg to “E” which will be at or near the top of the diverging wedge at $115-120 range.
From there we’re in new territory but using comparative previous gains I suspect we could actually see a PA up to the $155-160 area.
My thoughts, not advice Oklah. Cheers
LUNA is doing a nice ABCDE thing and has been in the “CD” phase since Dec 26 when the RSI clearly indicated “C” was the top (the fat red arrow up top & the yellow line in RSI section).
“C” also corresponded with PA reaching the upper edge of a diverging wedge pattern its been traveling in since Aug (indicated with the 2 blue trend lines).
The pullback was perfect to the 78% FIB level (“D”) of $63. Since beginning Jan RSI indications have been showing a trend change from down to levelling which again corresponds with PA reaching the bottom of the pull back. It spent some time accumulating in the range market area of $69-71. I think BTC bouncing from 44k to 39k and back isn’t helping matters of accumulation.
Now if BTC would just settle down and stop dumping 2k a day, I believe LUNA will continue on its next leg to “E” which will be at or near the top of the diverging wedge at $115-120 range.
From there we’re in new territory but using comparative previous gains I suspect we could actually see a PA up to the $155-160 area.
My thoughts, not advice Oklah. Cheers
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.