Following my last post; I was waiting for a short term pull back. That time frame has now been fulfilled and there is now a viable ABCDE wave 2 retrace. This of course will only be confirmed with a break up and out of the top trend line. This is not guaranteed. The triangle is a symmetrical set-up which means market indecision. It is neutral and has a 50% chance of breaking up or down. I am personally leaning bullish until a confirmed break down, however.
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The only thing that puts me off is the speed of the pullback. I expected at least a week of downside instead of just a few days. (Price action > timeframe) though!
Going nice if you update the chart. Nice work. We will see break in few hours.
thekevin
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@studna77, Thanks! I was charting the lunc:busd chart before but it looks somewhat different. More confusing and less clean. I'll probably stick with the kucoin one for charting. Hope it breaks up with a bit more volume here.
metza24
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Nothing about lunc makes me bearish...likely headed for 0.00016 this week:)