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LUNAUSD trade ideas

Potential Rally LUNC experienced a strong 80% rally on the 26th of September and has held onto it's gains pretty well. Currently, if you look at the 4H chart a potential cup and handle pattern is being formed. Back to the 1D chart LUNC held support at $0.000268 a level with much confluence. The trade setup that I am looking at is having a stop-loss as tight as possible or under support if you're looser with your stop, I prefer to reenter the market. A take profit within the green box near the 0.618.
LLong
by RighteousTA
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
Coiled UpLUNC is all coiled up and ready to break out of it's symmetric triangle. The asset is near the end of the pattern and could break in either direction. I would say that it will correlate with Bitcoin and the rest of the market but that has not been the case lately. I am leaning towards the bullish side, seeing the 60% retrace the asset just had and the retest at $0.000240 painting a double bottom. Also, the fundamentals of the upgrade with a 1.2% transactional burn implemented into its protocol. From a technical point of view it's really interesting to have all of the data before the whole situation. With a large cut in supply I could see LUNC retesting resistance between $0.20 & $0.30. Crazier things have happened in this space, like LUNA falling from $100 to nothing in the first place.
L
by RighteousTA
5
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