This is a daily chart.
Bullish descending wedge with a breakout attempt on the 26K satoshi level.
Ichimoku indicators need to change to bullish for me to consider entering this trade, besides a bullish candle close outside of the top of the wedge.
No bearish divergences present. Probable Wave 1 on Elliot Wave theory.
Currently retesting on top of the wedge.
Hi Traders
Looks like we are going to break the downward trend in luna. Overall I am very bullish on this project and therefore I think it was only a matter of time till we go back upwards. I expect ATH when we break the 20$ region but I think it is worth to already enter with a small position for a swing trade.
After seeing incredible gains during early March, LUNA has seen a month of bearish price action.
During this prolonged bearish period, LUNA has formed a classical bullish wedge pattern, of which it is currently breaking out. If volume picks up, this break out could potentially lead to a new ATH in time. Keep an eye on LUNA!
Happy trading!
Have what seems to be a pennant / flag formation and we are at the bottom.
One could take a small entry position here and upon break of counter trendlines as labelled, as this would bring more confirmation of upside move.
LUNAUSDT 4H
It broke out the triangle pattern but candle had long upper shadow
The low risk way is looking for breaking out in 1H or 15M
Stop loss at the red line (14.250)
1st target will be 1(22.4)
2nd target will be 1.272~1.382(27.1392~29.0558)
3rd target will be 1.618(33.1677)
Seen a healthy 34% correction on this dollar pair
A retake of the lows would be decent enty position with stops beneath the double bottom formation
Could add on a trendline break and on the kneckline retest of the double bottom
Targets are the range levels and 2.0 extension where if the run was very healthy could leave 10-20% for price discovery targets
Alerts...
Luna has had a terrific run over the past few months.
A correction and consolidation was needed.
Currently price is trending in this falling wedge which is a bullish pattern.
Entry after breakout would be best place to purchase.
Critical Supports : $15.20 , $14.26
Just a quick reference to the price movements of LUNA compared to the rising of bitcoin.
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