Hello trading community,
This idea spawns from something I witnessed Luna do before the crash. On a daily head/shoulder pattern, Traders turned a h/s into a pendant and the final run continued
BTC needs to touch the bottom of the green box (point 3) in order to make the chart pattern an expanding formation. Long term this would become a pendant or a falling...
Hi all,
Looking for some feed back on my charting,
Placed a low leverage short at the 118, unsure if that is the right move. Was looking for the 120 area or higher because we are in price discovery
What is the communities view on luna? given it will become a value holder for BTC.
Potential bull flag formed, possible run after 3 touches
Also may want to touch last resistance or the trend line highs off the resistance
Else: downtrend continuation
Luna re-tracetraced to the 0.78, setting a higher high
Not seeing major divergence, and it did just touch the 0.618 so this will be a tight stop loss. Could be running to $250 though.
I am seeing the 3hr fib retracement lining up with the long term fib channel.
Going to test a short 96- 100, down to 40-30 as historically the the 0.38 fib channel line is...
Looking to re-enter sand 1.80-2.00, holding a position at 2.63 incase of a breakout form here as it has retraced to the 0.702
another dip to the long term 0.618 seems possible too
Going to try an entry here, I like where that candle wicked too. No technical reasoning, still unsure if this is a pendant or a double top
Low leverage, see where it takes us.
If BTC were to drop and all players wanted to keep the game going..
It would make sense to drop it to the 0.66 (~27400), some factors:
1) Russian invasion going on. 1 nuke and all markets plummet.
2) 2nd peak was higher then the first. In order for a continuation pattern to form (expanding wedge), their needs to be a lower low. Otherwise this is double peaks...
Luna has retraced beautifully to the 0.702, forming a large head and shoulders on the 1 hr, bullish outlook but possible to reach the golden pocket or the 0.328 if bitcoin decides to make an expanding triangle
Entering with tight stop loss at bottom of next shoulder, which is lining up to touch the 0.786.
Will continue to try entry's at 0.618-0.66 and 0.328
