Long
LUNA's possible distribution over the 4hr timeframe
I'm by no means an expert, but, looks like the final stages of a clever offloading, smart money distributed this very nicely. It was sloped upward to convey strength, but positioned at the lower side of the volume profile so that once the distribution is complete it falls harder. The social media narrative conveyed extreme strength leading up to and over the distribution, as is usually the case. Now we are looking at a further decline.
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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.