Using the 1w timeframe, with the PA selected as “line”.
Since the 3rd of January PA created a “V” that thence created a divergence indicating downtrend (labeled “1” on the red trend lines).
Jan 25 is the day LUNA created a bottom “V” which thence created a second divergence indicating continued downtrend (labeled “2” on the red trend lines.
LUNA’s PA ascended to the $55 area and then descend to another low around the $49 area creating a bottom “V” this week Feb 14-21.
It is this new bottom “V” that begins a new trend cycle for LUNA as the previous “v” blocks/negates the 2 previous divergences 1&2. The sRSI is also crossing to an uptrend (indicated by the arrow).
The market is of course predicated on bitcoin movement but two things are evident. Firstly, with this recent bitcoin drop LUNA kinda held on dropping just a bit compared to all other coins and secondly, I believe bitcoin is at or near it bottom trend soon to be uptrend.
Predicting where LUNA is going the near future / next few days is frustrating because of bitcoins volatility right now. However, the big thing here is, LUNA has found the bottom.
My thoughts, not advice Oklah. Cheers
Since the 3rd of January PA created a “V” that thence created a divergence indicating downtrend (labeled “1” on the red trend lines).
Jan 25 is the day LUNA created a bottom “V” which thence created a second divergence indicating continued downtrend (labeled “2” on the red trend lines.
LUNA’s PA ascended to the $55 area and then descend to another low around the $49 area creating a bottom “V” this week Feb 14-21.
It is this new bottom “V” that begins a new trend cycle for LUNA as the previous “v” blocks/negates the 2 previous divergences 1&2. The sRSI is also crossing to an uptrend (indicated by the arrow).
The market is of course predicated on bitcoin movement but two things are evident. Firstly, with this recent bitcoin drop LUNA kinda held on dropping just a bit compared to all other coins and secondly, I believe bitcoin is at or near it bottom trend soon to be uptrend.
Predicting where LUNA is going the near future / next few days is frustrating because of bitcoins volatility right now. However, the big thing here is, LUNA has found the bottom.
My thoughts, not advice Oklah. Cheers
