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CryptoFallen

Possible Double Top for LUNA

Short
Terra / Tether (KUCOIN:LUNAUSDT)  
CryptoFallen Updated   
KUCOIN:LUNAUSDT   Terra / Tether
Trend Analysis Chart Patterns Technical Indicators LUNA LUNAUSDT LUNAUSD terra terraluna Cryptocurrency crypto cryptotrading blockchain
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trendanalysis chartpattern indicator luna lunausdt lunausd terra terraluna cryptocurrency crypto cryptotrading blockchain
LUNA/USD
Bearish Case
- Double Top formed and retested at $6.42 (0.236 fib retrace)
- Exaggerated Bearish Divergence on the 1hr
- Testing to break down of the ascending support line
- MACD on the 4hr looks to be turning bearish

Target Zone
- $4.888 (0.5 fib retrace)
- $4.202 (0.618 fib retrace)
- $1.99 (full retrace) given it is a double top

Bullish Case
- Stays within the supporting trend line and breaks the ascending triangle

Thoughts?
Trade closed: target reached
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