This is an inverted chart of LUN/BTC on the daily chart using Heiken-Ashi candles. Several indicators are getting me interested in trading LUN on the long side. The overall structure is showing a ranging price action between B.00035 and about B.00080. The previous move to the upside was very impulsive and reached over 100% within a few hours. This indicates to me the potential for a change in trend for the next few months. After the move up price has since retraced most of the move but the momentum looks to be shifting back to the bulls. I'm expecting price to trend towards the previous peak and eventually break it. The upside potential for this trade is over 300% once the bulls take control of direction. Lastly, the Heiken candles have turned bullish, indicating a change of direction on the daily chart.
Comment:
Going forward all my trade recommendations will be done against USD. This setup failed against BTC but is currently sitting at roughly 50% profit against the dollar.
Comment:
Another MA bull-cross incoming. This coin could generate nice returns.