Luna next few days...
Updated
Possible scenarios for Luna. With recent pumps, and the following dumps, looking ahead as many lunatics are to the Col-5 upgrade (Google it...tons of info out there).
Thinking there are 3 scenarios here:
1. We continue to drop to the lower trendline (also roughly the 4 hr / 200EMA) and bounce on Oct. 30 with the upgrade...hopefully moving past the upper trendline
2. We continue to drop to the 8 hr / 200EMA and bounce...hopefully moving past the upper trendline
3. And there's always #3 which is we continue to drop as the Col-5 news is sold probably looking for bottom somewhere down around $23 and maybe start a slow climb back up
I'm bullish that we'll pump through end of year as so many projects launch and UST gains more share, but...
• BTC is looking terrible
• Luna's RSI is bearishly diverged on the 4hr
• News is often sold, many think Col-5 is priced in
Good luck!
Thinking there are 3 scenarios here:
1. We continue to drop to the lower trendline (also roughly the 4 hr / 200EMA) and bounce on Oct. 30 with the upgrade...hopefully moving past the upper trendline
2. We continue to drop to the 8 hr / 200EMA and bounce...hopefully moving past the upper trendline
3. And there's always #3 which is we continue to drop as the Col-5 news is sold probably looking for bottom somewhere down around $23 and maybe start a slow climb back up
I'm bullish that we'll pump through end of year as so many projects launch and UST gains more share, but...
• BTC is looking terrible
• Luna's RSI is bearishly diverged on the 4hr
• News is often sold, many think Col-5 is priced in
Good luck!
Note
So we're getting a good bounce off the trend line, however, BTC is dragging the market so Luna might bounce around inside these trendlines until Col-5. I think BTC is going back to mid-30s through late October at which point we should see a reversal to the upside. So...looking ahead, I'm suggesting Luna sees a good bump through the end of the week but it will be momentary and we'll head into consolidation until BTC reverses. At that point, I'm super bullish...all that built-up pressure (Luna burn, product launches, etc.) should see Luna move up aggressively.But who knows, just lines on charts.
Note
Second bounce/retest off the trend line but not out of this yet. Col-5 tomorrow but we'll need to first survive the gauntlet between 3-7a EST.Note
Finally broke the resistance at $36, let's see if it holds. Patience...Note
Thanks to last-minute bulls (and BTC co-operating), we pushed the 4-hour candle to close past the trendline. Next up, retests of the trendline as support, if it holds, we've got some resistances in the low 40s but then we're off and running to new ATHs! If the retests fail...look out below.
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