Dangerous trade, high risk please avoid leverage.
The reason, why we are seeing a downtrend on Luna, is because the Reward to Risk is significantly lower the higher the price goes.
At $0.00044 there is a lack of buyers, and the reason that I could think of is that to actually x2 from it, you would need a price to go up to $0.00088. With a 6.5 trillion supply,...
1-hour timeframe has presented a bullish divergence. I expect the price to at least hit one of the resistance that I have mapped out before moving down.
Expected to hit 32k, but I shall remain a conservative.
Entering on the break of the high on 30 minutes. Stop loss on the previous candle low.
To continue my previous post, we have 18 hours left to the closing of our weekly candle.
On the daily, it has shown a descending wedge.
From 29/06/21 to 20/06/21, when everybody is bearish thinking that it might go to 20k, it showed this same pattern, false breakout on the pattern on daily TF.
In 4 hr TF, it shows that it was accumulating on its previous low...
RSI divergence happened on the Weekly TF, indicating a reverse in trend. Correlating with the drop in interest by the retails.
Expecting the break to the downside in the upward channel, and enter into a short position on 4 Hourly.
If it does not close below the channel, I would just speculate.
