🎯 LUNA - hanging on a cliff
🎯 LUNA has been selling off in the last days after the big pump it had a couple of weeks ago.
Most of the profits were taken from the table in the initial pump:
Recently it formed a descending triangle - a bearish continuation pattern. Low volume suggests that there is no interest for buyers in this area.
This is why I expect it to fall further down.
The next level to watch is around the Point of Control at 2$.
Wait for it to close confidently below current support. Confirmation of the move will come with increased volume.🎯
This idea is a complementary one to 🔥FieryTrading's idea - I believe it helps traders to keep both scenarios in mind and act according to how the market moves. It's a probabilities game.
💎Looking forward for your questions below. If this post provided you value, follow for more.
🚨Disclaimer: this post is for educational purposes only, not financial advice. Do your own due diligence.
Most of the profits were taken from the table in the initial pump:
Recently it formed a descending triangle - a bearish continuation pattern. Low volume suggests that there is no interest for buyers in this area.
This is why I expect it to fall further down.
The next level to watch is around the Point of Control at 2$.
Wait for it to close confidently below current support. Confirmation of the move will come with increased volume.🎯
This idea is a complementary one to 🔥FieryTrading's idea - I believe it helps traders to keep both scenarios in mind and act according to how the market moves. It's a probabilities game.
💎Looking forward for your questions below. If this post provided you value, follow for more.
🚨Disclaimer: this post is for educational purposes only, not financial advice. Do your own due diligence.
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