Updated
LUNA Looks Toppy
I warned people of Luna in my stream saying it's not a clear trade and it's too risky. After that, Luna went up about 20% against Bitcoin if I'm not mistaken. Well, I haven't changed my mind. It still looks toppy, perhaps even more than before. And that's not because of its price compared to its history. I have no reference to judge its price. I'm careful because I see shooting star candles and RSI divergence and an exhausted TD count by the green 9 candle on the daily. Three bearish indicators. If we get a correction or a hammer above the rising trend line, then it's an indication of strength, but until now, it's risky.
Note
Luna is holding up better than I expected. Seeing that most alts are down, it's not fair to say I was right about Luna being toppy. I'm actually impressed that today's candle is not trading below yesterday's candle. So I'll wait for tomorrow's candle to complete in order to judge Luna's strength.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.