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PIVX USD Inverse Head and Shoulders Neckline Broken, Target $.85PIVX is on the move and being accumulated it looks like to me. PIVX had a multi year correction consolidation which is understandable considering it went up 667,000%. That's right Six Hundred and Sixty Seven Thousand Percent. So anyways PIVX found some solid support around the $.10 cent mark and is now starting its next bull run. There is an inverse head and shoulders on the weekly that looks like the neckline has been broken and the measured move is around $.85 cents. My long term target for PIVX still stands on the macro, to around $100 bucks. PIVX hasn't stopped working and improving their project this whole time in this bear market they have been in. PIVX has some serious privacy features with a blockchain thats never been hacked or attacked because its practically impossible. Either way the fundamentals are there and the chart is showing a bottom. PIVX needs exchanges, thats what the team need to really work on next. Maybe create their own? What because its a privacy coin it wont be accepted on exchanges? Bullshit look at Monero it has over a hundred exchanges including the largest ones. PIVX is a diamond in the rough. Privacy will become a massive issue in cryptos when it is used mainstream, everyday by everyone, and these cryptocurrencies that have been around for almost 10 years that have withstood the test of time will be the ones adopted and used. These are just my speculations and ideas. This is not trading advice. Thank you for checking out my charts, leave me a comment below and let me know what you think. If you like my ideas then please dont forget to give me a boost and like my chart. THIS IS A LINK TO THE PREVIOUS MACRO CHART I MADE ON PIVX A WHILE BACK
PLong
by Bitgolder
4
LUNC LUNA CLASSIC LAXATIVES ARE KICKING IN, HUGE CRAP COMING!LUNC, as I have said before in my other charts is about to drop like you've never seen before. The break of this descending triangle is going to be ugly. I also don't think the measured move down will stop there. Once LUNC heads to those lows everyone who is staked and "believers" will suddenly become non-believers and they will unstake and sell their positions pushing LUNC to new lows. LUNC does not belong even in the top 100 in my opinion, its worthless and has no real world use, plus no one with serious money in their right mind will ever invest in this dead project. Take profits and cut your losses if you have any or you will incur many more losses. LUNC is never going to burn enough to make any sort of difference ever. No millionaires will be created by holding this dirty diaper. If you plan to hodl then I feel sorry for you and all I can offer is some toilet paper and some tissues. This is not trading or financial advice this isjust my opinion. If you like my content then please support my work by following me, and give me a boost if you a second. Thank you and good luck out there my friends.
Short
by Bitgolder
12
LUNA CLASSIC > SHIB: The Rise And Fall Of Pump & Dump Sh!tcoinsHello good morning my fellow traders. I show in the chart above how LUNA and SHIB have almost identical chart patterns. Fractals aren't always perfect but when comparing two different pump and dump hype coins then they usually rhyme. All this little news and crap coming out for LUNA is the same type of crap that was coming out when SHIB had reached its peak and began falling. Dont believe me then go to google and type in Shiba Inu and look at the news back in 2021 when Shib topped out. This price manipulation with LUNA so CZ or other big holders can dump their holdings on millionaire dreamers and recoup their losses is disgusting. Please people for the love of god don't fall for this scam that has been happening over and over again in crypto with hundreds upon hundreds of pump and dumps throughout the years, and Ive been in crypto since 2015. They all end the same, a slow bleed out all the way back down to previous lows. When LUNA gets back down to .00004 then sure maybe buy a few and hope for a nice dead cat bounce at some point in the future. For now LUNA has finished its run and has topped out, its on its way back down to where it started this run, and it will take a little while for it to bleed out, especially with how many are staked and how long it takes to un-stake, and how many fools are hodling in hopes of striking it rich. I used to think that LUNA would do something good with all the "fake" positive news it had in the beginning before the run started, but I have since changed my view on it. The supply is just too high, and none of the current burns will bring the supply down for shit, I explain with the math how long it will take to burn 90 percent of LUNA in my previous post, more than 10 years. Also the community has turned into a bunch of obnoxious crybaby thugs trying to force exchanges to burn coins, its a terrible look. Plus UST is still de pegged and never will be pegged again. Algorithmic stable coins are banned anyways. I would put in a short and ride this thing all the way to bottom cause thats where its headed. There is way too many people out there holding way to many LUNA for it to ever go to a dollar. When the majority are saying that a coin will 1000x then it will not do that, it will instead to the opposite. When SHIB holders became millionaires they bought when there wasn't any hype. They weren't screaming 1000x SHIB from he rooftops before it went on its parabolic rise, they bought when no one was talking about it. Then it had its rise and those holders became millionaires. Then once it had its rise, the 1000x SHIB hype started, and millions of people got on board only to be disappointed. The hype period of SHIB was not when millionaires were made, it was instead the end of the massive rally up. The hype was created so there would be enough liquidity so the early early adopters/holders could dump their SHIB and turn their unrealized gains into real profits at the top. Without the hype period at the top in SHIB, none of those holders would have ever become millionaires, simply because there wasn't anyone to buy them regardless of the price before that. Get it now? This is where LUNA is at the moment the massive hype cycle so smart money can dump their bags on the little guy with the dream of becoming a millionaire. Plus it doesn't help that every you tuber and their mother is saying $1 LUNA simply to get clicks, subscribers, and likes, and the majority of those you tubers know exactly what is happening but they are lying to you so you sub to their channel. Most of those youtubers only have a hundred or so dollars invested in LUNA, they said so. If they really believed the crap they are spreading don't you think they would invest as much as they can, or even a few grand? If I truly believed something would 1000x then i would sell everything I own, I would search the cracks in the couches for change, and get a personal loan and go all in. They don't do that because they don't actually believe it, they just want your clicks. People need to wake up from this fantasy world they are living in with this LUNA crap. $1 $.10 or even $.01 will never happen, EVER! LUNA will never be touched by any financial institution or any big money since its crash, unless they plan to pump and dump it for a quick Billion dollars. CZ of Binance manipulated LUNA just right so he could recoup his almost 2 billion in LUNA losses from the crash. Hes probably made 5x that by now, why do you think hes fine with burning $4 Million dollars in fees every day? Cause hes making hundreds of millions of dollars daily pumping and dumping this thing on your faces. Hes the conductor of this hype train, and hes about to jump off and let the train crash and burn. I wouldn't be surprised if CZ came out when LUNA bottoms to its previous low and says something to give this thing a dead cat bounce up another 500% and cause a mini hype rally and steal another quick billion from some fresh morons. Anyways thats my rant on all this crap. This is not trading or financial advice, this is just my opinions and speculations. Thank you and I hope you all have an amazing day.
COINBASE:SHIBUSDShort
by Bitgolder
8
LUNA CLASSIC > SHIB: The Rise And Fall Of Pump & Dump Sh!tcoinsHello good morning my fellow traders. I show in the chart above how LUNA and SHIB have almost identical chart patterns. Fractals aren't always perfect but when comparing two different pump and dump hype coins then they usually rhyme. All this little news and crap coming out for LUNA is the same type of crap that was coming out when SHIB had reached its peak and began falling. Dont believe me then go to google and type in Shiba Inu and look at the news back in 2021 when Shib topped out. This price manipulation with LUNA so CZ or other big holders can dump their holdings on millionaire dreamers and recoup their losses is disgusting. Please people for the love of god don't fall for this scam that has been happening over and over again in crypto with hundreds upon hundreds of pump and dumps throughout the years, and Ive been in crypto since 2015. They all end the same, a slow bleed out all the way back down to previous lows. When LUNA gets back down to .00004 then sure maybe buy a few and hope for a nice dead cat bounce at some point in the future. For now LUNA has finished its run and has topped out, its on its way back down to where it started this run, and it will take a little while for it to bleed out, especially with how many are staked and how long it takes to un-stake, and how many fools are hodling in hopes of striking it rich. I used to think that LUNA would do something good with all the "fake" positive news it had in the beginning before the run started, but I have since changed my view on it. The supply is just too high, and none of the current burns will bring the supply down for shit, I explain with the math how long it will take to burn 90 percent of LUNA in my previous post, more than 10 years. Also the community has turned into a bunch of obnoxious crybaby thugs trying to force exchanges to burn coins, its a terrible look. Plus UST is still de pegged and never will be pegged again. Algorithmic stable coins are banned anyways. I would put in a short and ride this thing all the way to bottom cause thats where its headed. There is way too many people out there holding way to many LUNA for it to ever go to a dollar. When the majority are saying that a coin will 1000x then it will not do that, it will instead to the opposite. When SHIB holders became millionaires they bought when there wasn't any hype. They weren't screaming 1000x SHIB from he rooftops before it went on its parabolic rise, they bought when no one was talking about it. Then it had its rise and those holders became millionaires. Then once it had its rise, the 1000x SHIB hype started, and millions of people got on board only to be disappointed. The hype period of SHIB was not when millionaires were made, it was instead the end of the massive rally up. The hype was created so there would be enough liquidity so the early early adopters/holders could dump their SHIB and turn their unrealized gains into real profits at the top. Without the hype period at the top in SHIB, none of those holders would have ever become millionaires, simply because there wasn't anyone to buy them regardless of the price before that. Get it now? This is where LUNA is at the moment the massive hype cycle so smart money can dump their bags on the little guy with the dream of becoming a millionaire. Plus it doesn't help that every you tuber and their mother is saying $1 LUNA simply to get clicks, subscribers, and likes, and the majority of those you tubers know exactly what is happening but they are lying to you so you sub to their channel. Most of those youtubers only have a hundred or so dollars invested in LUNA, they said so. If they really believed the crap they are spreading don't you think they would invest as much as they can, or even a few grand? If I truly believed something would 1000x then i would sell everything I own, I would search the cracks in the couches for change, and get a personal loan and go all in. They don't do that because they don't actually believe it, they just want your clicks. People need to wake up from this fantasy world they are living in with this LUNA crap. $1 $.10 or even $.01 will never happen, EVER! LUNA will never be touched by any financial institution or any big money since its crash, unless they plan to pump and dump it for a quick Billion dollars. CZ of Binance manipulated LUNA just right so he could recoup his almost 2 billion in LUNA losses from the crash. Hes probably made 5x that by now, why do you think hes fine with burning $4 Million dollars in fees every day? Cause hes making hundreds of millions of dollars daily pumping and dumping this thing on your faces. Hes the conductor of this hype train, and hes about to jump off and let the train crash and burn. I wouldn't be surprised if CZ came out when LUNA bottoms to its previous low and says something to give this thing a dead cat bounce up another 500% and cause a mini hype rally and steal another quick billion from some fresh morons. Anyways thats my rant on all this crap. This is not trading or financial advice, this is just my opinions and speculations. Thank you and I hope you all have an amazing day.
Short
by Bitgolder
10
LUNA CLASSIC > SHIB: The Rise And Fall Of Pump & Dump Sh!tcoinsHello good morning my fellow traders. I show in the chart above how LUNA and SHIB have almost identical chart patterns. Fractals aren't always perfect but when comparing two different pump and dump hype coins then they usually rhyme. All this little news and crap coming out for LUNA is the same type of crap that was coming out when SHIB had reached its peak and began falling. Dont believe me then go to google and type in Shiba Inu and look at the news back in 2021 when Shib topped out. This price manipulation with LUNA so CZ or other big holders can dump their holdings on millionaire dreamers and recoup their losses is disgusting. Please people for the love of god don't fall for this scam that has been happening over and over again in crypto with hundreds upon hundreds of pump and dumps throughout the years, and Ive been in crypto since 2015. They all end the same, a slow bleed out all the way back down to previous lows. When LUNA gets back down to .00004 then sure maybe buy a few and hope for a nice dead cat bounce at some point in the future. For now LUNA has finished its run and has topped out, its on its way back down to where it started this run, and it will take a little while for it to bleed out, especially with how many are staked and how long it takes to un-stake, and how many fools are hodling in hopes of striking it rich. I used to think that LUNA would do something good with all the "fake" positive news it had in the beginning before the run started, but I have since changed my view on it. The supply is just too high, and none of the current burns will bring the supply down for shit, I explain with the math how long it will take to burn 90 percent of LUNA in my previous post, more than 10 years. Also the community has turned into a bunch of obnoxious crybaby thugs trying to force exchanges to burn coins, its a terrible look. Plus UST is still de pegged and never will be pegged again. Algorithmic stable coins are banned anyways. I would put in a short and ride this thing all the way to bottom cause thats where its headed. There is way too many people out there holding way to many LUNA for it to ever go to a dollar. When the majority are saying that a coin will 1000x then it will not do that, it will instead to the opposite. When SHIB holders became millionaires they bought when there wasn't any hype. They weren't screaming 1000x SHIB from he rooftops before it went on its parabolic rise, they bought when no one was talking about it. Then it had its rise and those holders became millionaires. Then once it had its rise, the 1000x SHIB hype started, and millions of people got on board only to be disappointed. The hype period of SHIB was not when millionaires were made, it was instead the end of the massive rally up. The hype was created so there would be enough liquidity so the early early adopters/holders could dump their SHIB and turn their unrealized gains into real profits at the top. Without the hype period at the top in SHIB, none of those holders would have ever become millionaires, simply because there wasn't anyone to buy them regardless of the price before that. Get it now? This is where LUNA is at the moment the massive hype cycle so smart money can dump their bags on the little guy with the dream of becoming a millionaire. Plus it doesn't help that every you tuber and their mother is saying $1 LUNA simply to get clicks, subscribers, and likes, and the majority of those you tubers know exactly what is happening but they are lying to you so you sub to their channel. Most of those youtubers only have a hundred or so dollars invested in LUNA, they said so. If they really believed the crap they are spreading don't you think they would invest as much as they can, or even a few grand? If I truly believed something would 1000x then i would sell everything I own, I would search the cracks in the couches for change, and get a personal loan and go all in. They don't do that because they don't actually believe it, they just want your clicks. People need to wake up from this fantasy world they are living in with this LUNA crap. $1 $.10 or even $.01 will never happen, EVER! LUNA will never be touched by any financial institution or any big money since its crash, unless they plan to pump and dump it for a quick Billion dollars. CZ of Binance manipulated LUNA just right so he could recoup his almost 2 billion in LUNA losses from the crash. Hes probably made 5x that by now, why do you think hes fine with burning $4 Million dollars in fees every day? Cause hes making hundreds of millions of dollars daily pumping and dumping this thing on your faces. Hes the conductor of this hype train, and hes about to jump off and let the train crash and burn. I wouldn't be surprised if CZ came out when LUNA bottoms to its previous low and says something to give this thing a dead cat bounce up another 500% and cause a mini hype rally and steal another quick billion from some fresh morons. Anyways thats my rant on all this crap. This is not trading or financial advice, this is just my opinions and speculations. Thank you and I hope you all have an amazing day.
Short
by Bitgolder
16
LUNA CLASSIC LUNC > CZ BINANCE PRICE MANIPULATION > BURNS MATH!Hello everyone. So this morning CZ from Binance came out in a tweet and said that he would burn all the transaction fees from LUNA spot and margin trading. Now lets look at this for a minute. So first CZ tweeted he would support the burns making everyone think that he was going to implement the 1.2% burn on all the transactional volume on Binance, the price rocketed up. Then he came out and said he would not support the off chain burns and only the on chain burns, then LUNA dumped. Then he came out in an AMA and said he wouldnt be doing the 1.2% burn on the trading volume one more time, because for some reason there was alot of confusion about it, then the price dumped a little more. Then he came out and said the same day he would implement a feature to opt in to the burn tax for any trader who wanted to and then the price pumped a little. Then as LUNA came all the way down to the .618 around .00018 and Binance tweeted again this morning at 5:30 AM EST saying he was going to implement a burn mechanism to burn all the trading fees from LUNA trading and the price went up more than 50 percent in an hour. Shorts got liquidated and now on the drop Longs will be liquidated too. So I did the math for you all so you can see how big of a deal or not a big deal this extra burn of the trading fees is Average volume of Binance for LUNA currently is about 1 Billion daily. The total trading volume across all exchanges is an average of 2 Billion daily for now. This wont always be like this. The hype will eventually die down and the trading volume will diminish dramatically, maybe to at most 1 Billion daily across all exchanges. Now for the math, Im going to even look ahead and assume that all exchanges trading LUNA will follow Binance and Im going to round up the trading fee percentage to .2% although Binance is only .12%, because some exchanges may charge more. 2,000,000,000 x .2% = $4,000,000 $4,000,000 / PRICE OF LUNA = TOKENS BURNED PRICE TOKENS BURNED DAILY BY ALL EXCHANGES .0003 = 13,400,000,000 .0004 = 10,000,000,000 .0005 = 8,000,000,000 .0006 = 6,700,000,000 .0007 = 5,700,000,000 .0008 = 5,000,000,000 .0009 = 4,450,000,000 Lets do this with one less zero .001 = 4,000,000,000 .002 = 2,000,000,000 .003 = 1,340,000,000 Lets do this with 2 less zeros .01 = 400,000,000 Now he said that the first set of burns is from 9/21 to 10/1 thats 10 days BINANCE SPECIFIC BURNING FOR THIS TIME PERIOD .12% FEE ON TRADES AVERAGE 1 BILLION DAILY VOLUME AVERAGE THAT'S 40 BILLION LUNA TOKENS BURNED IN 10 DAYS BY BINANCE SOUNDS LIKE ALOT HUH? ITS NOT! AS THE PRICE OF THE TOKEN GOES UP THE AMOUNT OF BURNS WILL BE MUCH LESS. ALSO THE VOLUME WILL NOT ALWAYS BE 2 BILLION DAILY ACROSS ALL EXCHANGES. THIS VOLUME WILL EVENTUALLY DROP TO MAYBE A BILLION TRADING VOLUME DAILY. AT THE CURRENT PRICE AND WITH JUST BINANCE BURNING THEIR TRADING FEES AND THE ON CHAIN BURN WE WILL BURN ABOUT 6 BILLION TOKENS DAILY. SO TO BURN 90% OF THE SUPPLY WHICH IS 5.4 TRILLION TOKENS AT THE CURRENT RATE OF 6 BILLION TOKENS BURNED DAILY (WHICH WILL DROP DRAMATICALLY ONCE PRICES INCREASE) IT WOULD TAKE 900 DAYS. NOW THAT IS ASSUMING THAT THE BURNS WOULD BURN 6 BILLION A DAY WHICH IS NOT THE CASE, AND THAT WOULD STILL LEAVE 600 BILLION TOKENS WHICH WOULD BE THE ABSOLUTE BEST CASE FOR $1, BUT VERY VERY DOUBTFUL. EVERY TIME THE PRICE DOUBLES THE BURN NUMBERS GET CUT IN HALF. SO AT .0006 LIKE I SHOW ABOVE LUNA WOULD ONLY BE BURNING 3 BILLION A DAY, AT .0012 LUNA WOULD BE BURNING 1.5 BILLION A DAY AND SO ON AND SO FORTH . SO HERE IS THE CONCLUSION. IF EVERY EXCHANGE IMPLEMENTS THE TRANSACTION FEE BURN, AND LUNA CONTINUES TO HAVE 2 BILLION DOLLAR TRADING VOLUME THEN IT WOULD STILL TAKE APPROXIMATELY 3000 DAYS TO BURN 5.4 TRILLION COINS. THAT'S ALMOST 10 YEARS AND REALISTICALLY IT WOULD TAKE MUCH LONGER, AS VOLUME DECREASED AND PRICE INCREASED. ALSO THATS ASSUMING THAT BINANCE WILL KEEP THIS GOING INDEFINITELY WHICH I DOUBT AS WELL. NO ONE WANTS TO THROW AWAY 4 MILLION A DAY IN FEES. HES DOING THIS FOR HIS OWN AGENDA. HES MADE MULTIPLE BILLIONS MORE OFF PUMPING AND GOING LONG AND DUMPING AND SHORTING WITH THIS COIN THAN HE EVER WOULD HAVE MADE SELLING HIS STASH AT THE TOP WHICH WAS WORTH 1.6 BILLION I BELIEVE. HES MAKING 10S OF BILLIONS OF DOLLARS MANIPULATING LUNA WITH HIS TWEETS, TAKING EVEN MORE FROM INVESTORS THAT ALREADY LOST A LOT ON THIS THING. LUCKILY I WAS NOT ONE OF THEM, BUT I FEEL FOR EVERYONE WHO HAS, AND I AM SORRY YOU HAD TO GO THROUGH THAT. DON'T GO THROUGH IT AGAIN THOUGH WITH THIS HYPE TRAIN, PUMP AND DUMP. THIS BURN IS STILL NOT ENOUGH IN THE GRAND SCHEME OF THINGS. ALSO UST IS STILL DE-PEGGED AND NO ONE IS BUILDING ON TOP OF LUNA AT THE MOMENT. THERE IS NO REAL USE CASE FOR THIS OTHER THAN A HYPED UP PUMP AND DUMP. I USED TO THINK LUNA WAS GOING PLACES BUT I REALLY THINK THAT IT WAS JUST A PUMP AND DUMP BY DO KWON IN THE BEGINNING AND NOW CZ OF BINANCE IS PUMPING AND DUMPING IT AS WELL. THOSE TWO SHOULD HAVE A JAIL CELL TOGETHER WITH ONE BED! MY STRATEGY IS TO TRADE THIS UP AND DOWN BECAUSE THERE IS A TON OF LIQUIDITY AND VOLATILITY . I DO NOT USE LEVERAGE WITH VOLATILE TOKENS LIKE THIS EVER! ITS A VERY RISKY STRATEGY SO DO SO WITH CAUTION BECAUSE WILD PRICE SWINGS ARE EXPECTED FOR A WHILE. So for the price action short term. I think the hype will die down again once people realize this burn is just a drop in the bucket. My targets are .00026, and then .000235 before another run up If LUNA can rally up to .00035 with strength then we may see a run to previous highs, perhaps for a double top , I do not think LUNA has started a new bull rally to new all time highs. I don't think this will happen though I'm leaning more towards the bearish case because essentially nothing has changed as far as how long it would take to burn the tokens. This is just a suckers rally and boy are there a lot of suckers out there. Jokers coming out of the woodwork again screaming $1 LUNA with no idea of how to do math. THIS IS NOT TRADING OR FINANCIAL ADVICE THIS IS JUST MY OPINIONS AND SPECULATIONS
Short
by Bitgolder
42
LUNA CLASSIC LUNC > CZ BINANCE PRICE MANIPULATION > BURNS MATH!Hello everyone. So this morning CZ from Binance came out in a tweet and said that he would burn all the transaction fees from LUNA spot and margin trading. Now lets look at this for a minute. So first CZ tweeted he would support the burns making everyone think that he was going to implement the 1.2% burn on all the transactional volume on Binance, the price rocketed up. Then he came out and said he would not support the off chain burns and only the on chain burns, then LUNA dumped. Then he came out in an AMA and said he wouldnt be doing the 1.2% burn on the trading volume one more time, because for some reason there was alot of confusion about it, then the price dumped a little more. Then he came out and said the same day he would implement a feature to opt in to the burn tax for any trader who wanted to and then the price pumped a little. Then as LUNA came all the way down to the .618 around .00018 and Binance tweeted again this morning at 5:30 AM EST saying he was going to implement a burn mechanism to burn all the trading fees from LUNA trading and the price went up more than 50 percent in an hour. Shorts got liquidated and now on the drop Longs will be liquidated too. So I did the math for you all so you can see how big of a deal or not a big deal this extra burn of the trading fees is Average volume of Binance for LUNA currently is about 1 Billion daily. The total trading volume across all exchanges is an average of 2 Billion daily for now. This wont always be like this. The hype will eventually die down and the trading volume will diminish dramatically, maybe to at most 1 Billion daily across all exchanges. Now for the math, Im going to even look ahead and assume that all exchanges trading LUNA will follow Binance and Im going to round up the trading fee percentage to .2% although Binance is only .12%, because some exchanges may charge more. 2,000,000,000 x .2% = $4,000,000 $4,000,000 / PRICE OF LUNA = TOKENS BURNED PRICE TOKENS BURNED DAILY BY ALL EXCHANGES .0003 = 13,400,000,000 .0004 = 10,000,000,000 .0005 = 8,000,000,000 .0006 = 6,700,000,000 .0007 = 5,700,000,000 .0008 = 5,000,000,000 .0009 = 4,450,000,000 Lets do this with one less zero .001 = 4,000,000,000 .002 = 2,000,000,000 .003 = 1,340,000,000 Lets do this with 2 less zeros .01 = 400,000,000 Now he said that the first set of burns is from 9/21 to 10/1 thats 10 days BINANCE SPECIFIC BURNING FOR THIS TIME PERIOD .12% FEE ON TRADES AVERAGE 1 BILLION DAILY VOLUME AVERAGE THAT'S 40 BILLION LUNA TOKENS BURNED IN 10 DAYS BY BINANCE SOUNDS LIKE ALOT HUH? ITS NOT! AS THE PRICE OF THE TOKEN GOES UP THE AMOUNT OF BURNS WILL BE MUCH LESS. ALSO THE VOLUME WILL NOT ALWAYS BE 2 BILLION DAILY ACROSS ALL EXCHANGES. THIS VOLUME WILL EVENTUALLY DROP TO MAYBE A BILLION TRADING VOLUME DAILY. AT THE CURRENT PRICE AND WITH JUST BINANCE BURNING THEIR TRADING FEES AND THE ON CHAIN BURN WE WILL BURN ABOUT 6 BILLION TOKENS DAILY. SO TO BURN 90% OF THE SUPPLY WHICH IS 5.4 TRILLION TOKENS AT THE CURRENT RATE OF 6 BILLION TOKENS BURNED DAILY (WHICH WILL DROP DRAMATICALLY ONCE PRICES INCREASE) IT WOULD TAKE 900 DAYS. NOW THAT IS ASSUMING THAT THE BURNS WOULD BURN 6 BILLION A DAY WHICH IS NOT THE CASE, AND THAT WOULD STILL LEAVE 600 BILLION TOKENS WHICH WOULD BE THE ABSOLUTE BEST CASE FOR $1, BUT VERY VERY DOUBTFUL. EVERY TIME THE PRICE DOUBLES THE BURN NUMBERS GET CUT IN HALF. SO AT .0006 LIKE I SHOW ABOVE LUNA WOULD ONLY BE BURNING 3 BILLION A DAY, AT .0012 LUNA WOULD BE BURNING 1.5 BILLION A DAY AND SO ON AND SO FORTH. SO HERE IS THE CONCLUSION. IF EVERY EXCHANGE IMPLEMENTS THE TRANSACTION FEE BURN, AND LUNA CONTINUES TO HAVE 2 BILLION DOLLAR TRADING VOLUME THEN IT WOULD STILL TAKE APPROXIMATELY 3000 DAYS TO BURN 5.4 TRILLION COINS. THAT'S ALMOST 10 YEARS AND REALISTICALLY IT WOULD TAKE MUCH LONGER, AS VOLUME DECREASED AND PRICE INCREASED. ALSO THATS ASSUMING THAT BINANCE WILL KEEP THIS GOING INDEFINITELY WHICH I DOUBT AS WELL. NO ONE WANTS TO THROW AWAY 4 MILLION A DAY IN FEES. HES DOING THIS FOR HIS OWN AGENDA. HES MADE MULTIPLE BILLIONS MORE OFF PUMPING AND GOING LONG AND DUMPING AND SHORTING WITH THIS COIN THAN HE EVER WOULD HAVE MADE SELLING HIS STASH AT THE TOP WHICH WAS WORTH 1.6 BILLION I BELIEVE. HES MAKING 10S OF BILLIONS OF DOLLARS MANIPULATING LUNA WITH HIS TWEETS, TAKING EVEN MORE FROM INVESTORS THAT ALREADY LOST A LOT ON THIS THING. LUCKILY I WAS NOT ONE OF THEM, BUT I FEEL FOR EVERYONE WHO HAS, AND I AM SORRY YOU HAD TO GO THROUGH THAT. DON'T GO THROUGH IT AGAIN THOUGH WITH THIS HYPE TRAIN, PUMP AND DUMP. THIS BURN IS STILL NOT ENOUGH IN THE GRAND SCHEME OF THINGS. ALSO UST IS STILL DE-PEGGED AND NO ONE IS BUILDING ON TOP OF LUNA AT THE MOMENT. THERE IS NO REAL USE CASE FOR THIS OTHER THAN A HYPED UP PUMP AND DUMP. I USED TO THINK LUNA WAS GOING PLACES BUT I REALLY THINK THAT IT WAS JUST A PUMP AND DUMP BY DO KWON IN THE BEGINNING AND NOW CZ OF BINANCE IS PUMPING AND DUMPING IT AS WELL. THOSE TWO SHOULD HAVE A JAIL CELL TOGETHER WITH ONE BED! MY STRATEGY IS TO TRADE THIS UP AND DOWN BECAUSE THERE IS A TON OF LIQUIDITY AND VOLATILITY. I DO NOT USE LEVERAGE WITH VOLATILE TOKENS LIKE THIS EVER! ITS A VERY RISKY STRATEGY SO DO SO WITH CAUTION BECAUSE WILD PRICE SWINGS ARE EXPECTED FOR A WHILE. So for the price action short term. I think the hype will die down again once people realize this burn is just a drop in the bucket. My targets are .00026, and then .000235 before another run up If LUNA can rally up to .00035 with strength then we may see a run to previous highs, perhaps for a double top, I do not think LUNA has started a new bull rally to new all time highs. I don't think this will happen though I'm leaning more towards the bearish case because essentially nothing has changed as far as how long it would take to burn the tokens. This is just a suckers rally and boy are there a lot of suckers out there. Jokers coming out of the woodwork again screaming $1 LUNA with no idea of how to do math. THIS IS NOT TRADING OR FINANCIAL ADVICE THIS IS JUST MY OPINIONS AND SPECULATIONS
KRAKEN:LUNAUSDShort
by Bitgolder
3
TERROR LUNA CLASSIC In Freefall Down to .00013 Wicks to .000088LUNA classic has been in free-fall since reaching its high. It broken through all major support and the downtrend continues. There is a drive of hidden bullish divergence on the hourly so a bounce today and tomorrow up to .00026-.000275 is possible and likely before being rejected at resistance again and continuing its downward journey. There is no real support after .0002, so once .0002 breaks and we get into the .0001's then the panic selling will occur and we will drop fast down to the next major support around .000144. I don't think .000144 will hold for long before LUNA slams down to really strong support around .00011. A stray wick could push down to as far as .000095-.000089. This is not trading or financial advice this is just my opinions and speculations based on TA and FA of my own. MACD ON THE DAILY : STRAIGHT DOWN RSI ON THE DAILY : STRAIGHT DOWN
Short
by Bitgolder
22
LUNA CLASSIC LUNAC Breaking News For LUNA! BINANCE NO BURNS!There was a live AMA just a few minutes ago with CZ of Binance. He just smashed everyone's hopes of off chain burns, and Luna is now dumping. No trader in their right mind would ever trade Luna with that type of burn. Cant steal from Peter to pay Paul. I told you guys this would happen, and if I was you and I was still holding bags, then I would take profits now before Luna dumps down to .00008 and everything is lost. There will be heavy selling coming soon. Once Luna breaks .0002 then everyone will get scared and dump at the same time. Luna burning at the rate its burning now on chain will take 20 years to burn down to 10 billion. If CZ of Binance is not going to support the off chain burns then no one with any decent volume will either. Hype is over, time to move on to the next hype coin! We broke support and next support is down at .00014 on the 4 hour and then .000085. I hope everyone is able to take some profits before this thing hits the floor. They should have named this coin TERROR LUNA for how much its terrorizing people. I wish you all the best of luck. This is not trading advice, this is just my opinions and speculations. Thank you
Short
by Bitgolder
31
LUNA CLASSIC HYPE IS OVER FOR NOW >> Target .00013Im sorry guys but Im not very bullish on this chart. This is looking bad to me. Its the same type of hype run and correction is had back a couple months ago. I show that in the chart, that the previous run up from its lows to its high around .00017 it ran about 100% and then corrected down almost 35% after breaking the trend line support but an overall correction of 46%. On this rally Luna did a 500% run and has now corrected down to a similar support trend line as the previous run. The fractals are very similar, and fractals within the same asset usually play out the same too. So on this correction after the break of the support trend-line I predict a drop about 50% from where we are now, and a total of 75% before this correction/consolidation is over. I think that probably around mid October Luna will have bottomed out and starts its next run up. I think the correction on this run will be greater because the rally was also 4 times what the previous one was so the bigger the rally the bigger the correction. So I think .00017 will be a nice level to start buying, there may be wicks even lower to around the .00013 and 14 levels so have a couple buy orders there too. Sorry guys I wish I had better news, but the chart looks terrible and the news isn't that great either for the whole market and Luna specifically. The hype is dying down along with the volume in trading. Also the burns aren't as cool as everyone made them out to be (even I fell for it for a bit) . At the rate of burning now it looks like Luna will burn 75% of its supply in around 15 years. That is not very good especially if you expected a dollar by the end of the year. I don't think Luna will reach a dollar anytime soon, unless we have a major surprise burn catalyst like multiple exchanges burning transactions taxes etc which I don't think is going to happen, or some philanthropist comes out of the woodwork and says they are going to burn 50% of the Luna supply in one shot. I fell for the hype a too but I managed to make 350% on the last rally and I traded the bounces all the way down. There might be a big pump but itll be fast and brief, not sure how high but there is some bullish divergence on the 2 hour. The Daily macd is straight down adn the RSI is headed down as well. This is not trading or financial advice this is just my opinion and speculations. Comment below and let me know which way you think the price goes from here. Thank you and good luck.
Short
by Bitgolder
6
LUNA CLASSIC LUNAC Still In Triangle, W Pattern > Target .00030So the FED spoke, and they said what everyone expected, nothing special. Luna had a nice big wick down, great short entry right before the release, and then it pumped right back to where it was, great quick long entry. Now Luna has formed a W bottom on the 15 minute within the triangle with the measured move bringing it to the same target I said this morning at around .00030. This is not trading or financial advice this is just my opinion. Thank you
Long
by Bitgolder
DGB DIGIBYTE About To Run 500% BULLISH DIVERGENCE RSI+MACD $.042Digibyte has corrected more than 90% since its high at 18 cents. I think DGB has hit its bottom and is about to explode. There is 3 drives of Bullish divergence on the RSI and MACD going all the way back to January on the daily. I think $.042 cents will be the shorter term target with potential longer term targets much higher if we break past resistance there. A wick to about 5 cents is easily possible as well. Don't forget DGB is one of the only actually decentralized, longest running, advanced POW coins out there with privacy features, and is 40x faster than bitcoin . Its mining is super efficient and can be mined with 5 different methods, making it possible for more people to mine with their rigs. Digibyte came out in early 2014 and DGB break in has just finished, its time for it to shine. The world will realize how important POW is once they see what happens with ETH POS . Digibyte has done amazing work over the years and even all through this massive multi year bear market it has been in. I would say that DGB is in an accumulation zone now and wont go much lower if at all lower. In a perfect world it would be BTC , LTC, DGB as the main 3, for everything! This is not financial or trading advice this is just my opinions and speculations. IF YOU APPRECIATE MY WORK THEN PLEASE LIKE AND FOLLOW. COMMENT BELOW AND LET ME KNOW WHERE YOU THINK DIGIBYTE IS HEADED IN THE FUTURE. LETS SPECULATE TOGETHER. GOOD LUCK MY FRIENDS BULLISH DIVERGENCE ON THE MACD: BULLISH DIVERGENCE ON RSI: VOLATILITY INCREASING ON BBWP: SUPPORT AND RESISTANCE ON THE 4 HOUR:
Long
by Bitgolder
15
LUNA CLASSIC > DIGIBYTE POSSIBLE FRACTAL, TOTAL SLAUGHTER!LUNA CLASSIC AND DGB DIGIBYTE HAVE A SIMILAR FRACTAL Back in early 2021 the hype for Digibyte was huge. There were so many videos, you-tubers, articles, Trading View popularity for DGB and what happened? it correct more than 90% from its hype high. Yes I understand that DGB doesn't have a burning deflationary mechanism but the emotion is still there. Im not saying that this will happen with Luna I am just pointing out the possibility. No one thought DGB would drop back down to under a penny when it was at $.18 cents or even 10 cents or even 5 cents, the true believers, the hardcore DGB fans, diehards, kept on with the positive news and sentiment as long as they could. Then they couldn't anymore, and the hardcore fans and true believers sold, then the diehard investors sold. What if the burns for Luna dont go as planned and they have to postpone them, or they are nowhere near what everyone has hyped them up to be? Need to be mindful that this type of hype and fomo usually leads to serious disappointment and depression once its over, and everyone comes back down to earth. Luna went up a lot and in quite a short period of time from its low, and from my experience in this market is, if it goes straight up then it usually comes straight down unless there is some real world adoption, or white swan (my opposite version of black swan). For now there is no real world adoption, the chain is working but is still in the break in period and need lots of work to regain investors trust. Most investors wouldn't touch Luna with a ten foot pole, especially big money, after that collapse and the USDC still un-pegged. I also don't think the burns on trading transactions on exchanges will ever happen, at least not on high volume exchanges, maybe some no name exchange will do it to get in the news. Its too much of a loss for the exchange and no trader with half a brain would bother to trade it with that type of tax. You cant strong arm exchanges and boycott them for not complying with the requests from Luna, its just a bad look. People need to be realistic and patient. Why not focus on real world implementation instead of yelling at everyone to burn the coins, that would really bring the price up as well. Either way Ill be trading this all the way down or if we're lucky all the way up. LIKE, AND FOLLOW ME FOR MORE FREQUENT UPDATES. THIS IS NOT TRADING OR FINANCIAL ADVICE THIS IS JUST MY OPINIONS, SPECULATIONS, AND WHAT I AM DOING. THANK YOU FOR YOUR SUPPORT, I HOPE YOU ALL HAVE A WONDERFUL DAY.
Short
by Bitgolder
12
LUNA CLASSIC LUNAC Trading Within Triangle, FOMC=Direction!LUNA Classic has been trading within this Triangle for a while now. The triangle will resolve I believe today or tomorrow. We will see whether LUNA can break the triangle to the upside or not. There is a couple things going on today like the FOMC meeting and LUNA starting its burns. So here is how that is going to work. The Fed raising rates by 75 basis points is priced in. The burns for Luna are also priced in. If the Fed raises by 100 BP then Luna and the entire market is going to tank for a bit, Luna will probably fall to previous support around .00024 and then we will re-visit. If the Fed raises by 50 BP which is lower than expected LUNA will rally along with the rest of the market, and LUNA might make a run to previous resistance around .00039 and then we will re-visit. If the Fed stays the same and people are happy with the burns then Luna will trade kinda sideways for a bit I think ranging within .00024 and .00029. If the burns start and the math is done to show that it may take many years to reach the 90% reduction that everyone wants then Luna will dump pretty hard regardless of the FED meeting. If the burns show that the supply could fall quite quickly and not take that long then LUNA will probably make a decent rally at least to previous resistance at .00039 and then we will re-visit. On the lower time frame I think we will see a run up from current price around .000285 to the top of the triangle around .00031. Volatility is expanding and the MACD is coiling up to break to the upside on the hourly so this move will happen within an hour once the resistance is broken around .0002905. Please note that Symmetrical Triangle patterns once formed break in the direction of the current trend as a continuation pattern. The current trend is down and corrective, so the chances of Luna breaking down is more probable than an upside break. As you can see back on September 1st when we had that nice pump, a symmetrical triangle formed and it broke to the upside because we were in an uptrend. Also the current Symmetrical triangle has a slight upwards angle which could make it a rising wedge , which is also very bearish and most likely a break to the downside. Thank you all for your support, please like and follow if you appreciate my charts and content. This is not trading or financial advice this is just my opinions, and speculations. I hope you all have a wonderful day. We Broke above resistance at .00029 at time of writing this so a move to at least .000305 - .00031 is imminent.
by Bitgolder
3
LUNA CLASSIC LUNAC Trading Within Triangle, FOMC=Direction!LUNA Classic has been trading within this Triangle for a while now. The triangle will resolve I believe today or tomorrow. We will see whether LUNA can break the triangle to the upside or not. There is a couple things going on today like the FOMC meeting and LUNA starting its burns. So here is how that is going to work. The Fed raising rates by 75 basis points is priced in. The burns for Luna are also priced in. If the Fed raises by 100 BP then Luna and the entire market is going to tank for a bit, Luna will probably fall to previous support around .00024 and then we will re-visit. If the Fed raises by 50 BP which is lower than expected LUNA will rally along with the rest of the market, and LUNA might make a run to previous resistance around .00039 and then we will re-visit. If the Fed stays the same and people are happy with the burns then Luna will trade kinda sideways for a bit I think ranging within .00024 and .00029. If the burns start and the math is done to show that it may take many years to reach the 90% reduction that everyone wants then Luna will dump pretty hard regardless of the FED meeting. If the burns show that the supply could fall quite quickly and not take that long then LUNA will probably make a decent rally at least to previous resistance at .00039 and then we will re-visit. On the lower time frame I think we will see a run up from current price around .000285 to the top of the triangle around .00031. Volatility is expanding and the MACD is coiling up to break to the upside on the hourly so this move will happen within an hour once the resistance is broken around .0002905. Please note that Symmetrical Triangle patterns once formed break in the direction of the current trend as a continuation pattern. The current trend is down and corrective, so the chances of Luna breaking down is more probable than an upside break. As you can see back on September 1st when we had that nice pump, a symmetrical triangle formed and it broke to the upside because we were in an uptrend. Also the current Symmetrical triangle has a slight upwards angle which could make it a rising wedge, which is also very bearish and most likely a break to the downside. Thank you all for your support, please like and follow if you appreciate my charts and content. This is not trading or financial advice this is just my opinions, and speculations. I hope you all have a wonderful day.
KRAKEN:LUNAUSD
by Bitgolder
4
LUNAC LUNA CLASSIC Luna Is Losing Steam! Heavy Selling Coming!Luna has been bouncing up and down within some support and resistance levels for a couple days now. I said yesterday that we would drop down to about .00026 and that happened. We didnt get down to .00024 because .00026 was decent support. Bouncing back up to .00029 and now we are ranging within those two levels. The larger head and shoulders has been formed and now Luna is bouncing off the neckline support fo the head and shoulders. If Luna starts trading below the neckline and closing hourly candles below then expect a significant drop down to .00016 minimum. If .00016 fails then we will probably see another 50% drop down to previous lows/support around .00009 ish . Invalidation of this large head and shoulders would be if Luna starts trading above .00035 and closing at least 30 minute candles above that. I don't see that right now because volume is weak, and the market in general is bearish at the moment. Good luck out there everyone, this is not financial or trading advice this is just my opinion. I update frequently, so follow me for more. Thank you On a lower time frame 15 minute chart, Luna has formed a W formation. This is a bullish pattern and a measured move would bring it to about .00032 if the pattern is validated and completed. See below:
Short
by Bitgolder
33
LUNA CLASSIC LUNC Classic Double Top Forming, Target .000265Luna made its pump I said it would make in the previous chart chowing the W formation. It pumped exactly to where I said it would. It then correct and had another pump but the second pump failed to get above the previous pumps high so now Luna is forming a double top on the 30 minute and 1 hour time frame. indicators are showing weakness still. My short term target is .000265 over the next couple of hours, in which At that time Luna will have created another head and shoulders (i will link another image below showing that head and shoulders potential forming. A measured move from that head and shoulders down will be around .00019 mark and with little support in that area I think a further drop down will follow. One this downside break starts its going to be swift. Luna could lose 50% within an hour or two so you need to be quick. For now though lets hope the .00026 and the .00024 hold and hopefully that head and shoulders will be invalidated. Good luck out there my friends, this is not trading or financial advice. Give me a like and follow me for more updates. Thank you.
Short
by Bitgolder
4
LUNA CLASSIC LUNC : Small Bounce .00032 Complete, Down From HereLUNA has completed the measured move of the W chart formation I showed in the previous chart. It was just a little rally, nothing too serious. Resistance still not broken and still lower highs. Its breaking down from this pennant, and ironically this pennant has yet another head and shoulders. That measured move would bring Luna back down to .000285, and probably further down back down to .00026 ish level. The Daily MACD is still straight down so these little rallies are nothing to get wet over. I still believe that if we break the neckline of the giant head and shoulders on the 4 hour and close below it then we are going to see a drop down to .00015. I we can break above resistance at .00035 then we will see a nice rally to just below all time highs and if we can sustain that then new highs but thats not likely at this time. This is just my opinion not financial advice. Follow me for more updates. Thank you
Short
by Bitgolder
12
LUNA CLASSIC LUNAC .00028 Support Failed Next Stop .00026-.00024LUNA CLASSIC made the move I expected. It broke right through the .00028 level and is now headed down to .00026 and .00024 if that support fails. I think a small bounce at .00026 is probable and then I think we're continuing the downward trajectory to .00024 and then .00021. If we break below .00024 and close below that on 2 15 minute candles then we are headed to .00021 and then we will re-evaluate, stay tuned and follow for more updates. This is not financial advice this is just my opinion. Good luck my friends. P.S. I saw a 2 drive bullish divergence on the StochRsi so we may have a bounce back up to .000288 or so before the downside continuation.
Short
by Bitgolder
12
LUNA CLASSIC LUNC Failed To Get Above Resistance, Getting Weak!LUNAC hit major resistance at .00034 or so and it had a hard time getting above that. It broke down out of the falling wedge, invalidating the possible upside break. Luna then starting forming a rising wedge up to the bottom of the wedge it broke down out of and now that rising wedge has broken down. I see at least a move down to previous support around .000283 - .000287, we may have a small bounce there but I think its going to fall right through down to .00024 in the short term, probably in a couple hours. We may have a small bounce from this level back up to about .000303 and then slam down. The technical indicators are all looking bearish and weak from the 1 hour all the way to the 3 day. If LUNA manages to rally and close above .000303 then a move to .000307 is likely and then if we close above .000307 then a move to about .000316 is likely. if we break .000316 then we will probably rally to previous resistance at .00034 and re-evaluate at that time. Thank you for checking out my chart. This is not financial advice, this is just my opinion. If you like these updates then give me a like and follow me. Good luck out there everyone.
Short
by Bitgolder
4
Luna Classic LUNC: WTF With These Damn Head And Shoulders!!Luna appears to have formed another head and shoulders on the hourly. The measured move would bring us down to .000238 minimum and possibly lower. Technical Indicators are all bearish all the way to the 2 day. The inverse head and shoulders that was formed is probably invalidated by now. It may still play out but its not looking good right now. I expect at least a move to .00024, if the selling pressure is high then we may head lower from there. I will reevaluate at that point. Thank you and good luck. This is not trading or financial advice.
Short
by Bitgolder
21