๐ฏ LUNA has been selling off in the last days after the big pump it had a couple of weeks ago.
Most of the profits were taken from the table in the initial pump:
Recently it formed a descending triangle - a bearish continuation pattern. Low volume suggests that there is no interest for buyers in this area.
This is why I expect it to fall further down.
The next level to watch is around the Point of Control at 2$.
Wait for it to close confidently below current support. Confirmation of the move will come with increased volume.๐ฏ
This idea is a complementary one to ๐ฅFieryTrading's idea - I believe it helps traders to keep both scenarios in mind and act according to how the market moves. It's a probabilities game.
๐Looking forward for your questions below. If this post provided you value, follow for more.
๐จDisclaimer: this post is for educational purposes only, not financial advice. Do your own due diligence.
Most of the profits were taken from the table in the initial pump:
Recently it formed a descending triangle - a bearish continuation pattern. Low volume suggests that there is no interest for buyers in this area.
This is why I expect it to fall further down.
The next level to watch is around the Point of Control at 2$.
Wait for it to close confidently below current support. Confirmation of the move will come with increased volume.๐ฏ
This idea is a complementary one to ๐ฅFieryTrading's idea - I believe it helps traders to keep both scenarios in mind and act according to how the market moves. It's a probabilities game.
๐Looking forward for your questions below. If this post provided you value, follow for more.
๐จDisclaimer: this post is for educational purposes only, not financial advice. Do your own due diligence.
