relievedHawk1

Luna headed to last point of supply?

BINANCE:LUNAUSDT   Luna / TetherUS
Here's a quick suggestion of Wyckoff distribution schematic applied to Luna. We have recently left the range we'd been trading in this month in a strong upthrust, but while some people are shouting "hey look we've just broken the descending trend line so we're mooning!", on my side I don't think this means anything really. Rather, I'm seeing the current rally as a potential last point of supply in the phase D of distribution, as long as the current run up does not extend much further up in the 70's near the previous LPSYs. The only thing that is making me doubt that we're at an LPSY is the high volume in this run up. If it is indeed phase D's last LPSY, the price should quickly get rejected in the next couple of days, back into the previous blue range before starting phase E and breaking below $50 for good. I am by no means an experienced Wyckoffian analyst, so I would appreciate your opinion on that.
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