Possible Bottom on LUNA
Updated
Luna has recently been consolidating for a while now but what I can see from the charts is its ready to bounce once again.
We have 7 bull divergences showing on the 4HR, a quadruple bottom on the hourly, MACD is slowly shifting to the upside, we are currently within a bullish harmonic and sitting between the 5-618 fib. Looks like a good quality buy to me atm. If you're just buying spot i'd say this is a decent area to buy as long as BTC decides to dump on us.
If we do get a proper bounce here I expect it to land in the $42 region going off of the bullish harmonic. Unsure whether it will test the previous high again but will keep some of the trade running if it gets to $42 just in case.
Any thoughts on this are welcome.
We have 7 bull divergences showing on the 4HR, a quadruple bottom on the hourly, MACD is slowly shifting to the upside, we are currently within a bullish harmonic and sitting between the 5-618 fib. Looks like a good quality buy to me atm. If you're just buying spot i'd say this is a decent area to buy as long as BTC decides to dump on us.
If we do get a proper bounce here I expect it to land in the $42 region going off of the bullish harmonic. Unsure whether it will test the previous high again but will keep some of the trade running if it gets to $42 just in case.
Any thoughts on this are welcome.
Trade closed: target reached
trade successful, measured move complete
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