This video is pretty much:
Going over how I do not like that BTC did not come back to support on Saturday.
Luna is near its strongest (relative to location) timeframe average. Which is the 4HR. Currently this is it 5.6088.
Long story short: We do not want to end, not just under the 4HR 200 smma, but also close to it while being under. If we end too far, the price could easily come back to test that rejection and could easily pass back through. An end closer to the line would be stronger from the perspective of having a good spot for people to enter shorts with minimal losses. Pretty straight forward. I go into more specifics in the video.
Anyway, its an 18 minute video and may be worth the watch. The first 5 minutes are worth it anyway.
Going over how I do not like that BTC did not come back to support on Saturday.
Luna is near its strongest (relative to location) timeframe average. Which is the 4HR. Currently this is it 5.6088.
Long story short: We do not want to end, not just under the 4HR 200 smma, but also close to it while being under. If we end too far, the price could easily come back to test that rejection and could easily pass back through. An end closer to the line would be stronger from the perspective of having a good spot for people to enter shorts with minimal losses. Pretty straight forward. I go into more specifics in the video.
Anyway, its an 18 minute video and may be worth the watch. The first 5 minutes are worth it anyway.
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Its looks incredibly sketchy, but I think its still possible for it to hold considering where the new 2HR candle just started. Its going to need something nice to push it up though and there still doesn't seem to be much of a reason to buy it up until we start a 4HR candle above in 2 hours
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BTC being weird again. Luna most likely got pulled down with it as many other alts seemed to as well. BTC did look bad on the 4HR change ending back under resistance, but even though BTC has weak legs, it still feels weird to see it affect alts in unison like that.
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Ill be streaming in a couple of hours. I can't update this any more. It is nice to show someone my thoughts at a later date, but the price action is so all over the place that there is no way to tell what is going to happen unless I was live streaming it in real time. There was only about 10-15 minutes to see luna was in trouble. At such a key area, this kind of action is deadly and removes really any purpose of putting out info that will be lagging in nature (recorded video).Its wild BTC isnt even on a cliff, barley drops and affects not just the alts, but the alt/BTC price as well.
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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.