Long

$luna Swing

Updated

- This level needs to hold, and if it doesn't the chart will likely rug!

I'm taking up a long position at 51.75
Targeting
59 for Target 1
69 for Target 2

I'm starting to hate the "B" word right about now.
Not going to declare bottoms.

Note

A fractal from the recent past.
was showcased a strikingly similar consolidation after a corrective sell-off.

Red Fibonacci Retracement level is my 61.8
- referred to by the red arrows.

Both the present formation and historical one sold off to their respective 61.8.

In my perspective, this could be a fractal that's significant, and it was worth an entry.

Note

The Ultra-Bullish Perspective

If my fractal is in play, and is entering a new bull cycle;
Based on the previous bull cycle we can expect price action to look something like this.

CoinObservatory

Thanks for checking us out!

For access to our TradingView scripts, visit us at
linktr.ee/coinobs

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.