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LUNAUSD (4H Timeframe)
Waiting for the upward break of 75.65 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 64.58 would cancel the bullish scenario.
Stop loss: 64.58
Take profit 1: 82.48
Take profit 2: 93.54
Strategy: Bullish reversal
I have posted a LUNAUSD analysis earlier this month (Dec 02) but due to the latest market volatility, it is a good time to update it:
As you see that pattern above played out almost exactly as planned as the price initially broke out then pulled-back to the 1.0 Fib and rallied...
Introducing LUNA to the USD.
After a sharp drop from 27/12, Luna drew a bearish flag and tested it from the bottom, which shows a continuation of the downward trend in the medium-term.
The convergence of the trend line, 0.5 Fibonacci and a similar percentage decrease act as a magnet in the designated place of my takeprofit
I believe $123 is a better candidate for the slide and the $30 is a better target than $10.
crab harmonic pattern:
In my wave count, we finished gray wave 3 at 106.29, and are now correcting the big impulse that began on May 2021.
I´m looking at 2 scenarios:
1. We already made a 3-wave correction (blue ABC), and wave 4 is done. In this case we will begin looking for new highs and price discovery.
2. This move is only wave A of the correction (in purple) and we still have...
So for now 23% fib in blue has stopped the flow but for how long? possibly 23% monthly fib in red. In short until the high is taken around 103-107 area, any bounce is a recipe for short. This is my opinion, do your DD. good luck
LUNAUSD reclaimed 99ma and the set up looks identical to the last two. However, it looks like the 99ma took a deeper dive which might indicate even more of a slingshot to the upside. New ATHs may be in the cards.
Based on my current assessment of Luna's price action, using he science of Elliott Wave Theory, I predict that the price point will reach beyond $100 in the coming days. I don't anticipate that this level ($75+) of buyer support will last much longer afterwards. What are you thoughts on Terra in the coming days, weeks and months ahead?
Beyond, $110 - call me...
It could experience a 15-20% correction soon!
85-80 could be the target in the next 2 weeks!
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant,...
Terra (LUNA) correction after new ATH?
Considering a bearish divergence on RSI very likely.
But where to (re-)enter if the correction occurs?
A view to hourly volume support can help.
What do you think? 😎
Drop me a nice comment if you'd like me to analyze any other cryptocurrency or do another comparison.
*not financial advice
do your own research before investing