The daily candles are indicating 2 things for LUNBTC:
1. Lunyr is heading towards the oversold region 2. LUNBTC price will fall in the short term, allowing the final buy opp before Lunyr takes a trip up.
As Lunyr is entering the oversold region, it is possible to definitively say that once it exits that region LUNBTC and LUNETH will head towards target zones, keep in mind 3 things:
1. It is possible to bounce off the first horizontal green line on wt cross, temporarily reverse, and head into or below the second green line before a true reversal 2. Once it exits the oversold region, it generally will not come back until it reaches an overbought region (and vice versa) - an overbought region would correspond to a breakout on the daily. 3. It may reverse before it enters the official oversold region (as it had previously exited the region before making a run up)
Safe trading Mun Marines, be sure to take advantage of the dips
also, I'm not sure what exactly the technical term for this bow and arrow looking formation is, but I like to refer to it as such - "bow and arrow" the bow was completed with the spike up, the arrow is the trend line it is currently resting on, if we do see the predicted short term buy opportunity it would indeed be as if an arrow was shot from the buy, but fret not, after the arrow is fired and the buy opportunity is realized, we the mun marines that we are will leap into the sky, gravity unbound
My friend, in 1-day chart RSI still 40 and in history, it looks it should reach 30 for the bottom. That looks may happen in about one month. I hope I'm totally wrong.
su314ka
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@LeoGrandson, I think you are right.
Nagat
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Hey bro do u think is good to buy now?
aoguang7777
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@Nagat, You could probably either buy now or wait for LUN to head into the oversold zone and buy there/on the confirmation of a reversal - or do both, buy some now and observe the price over the next few days, watching for good entry points