Hello, traders!
Let's take a look at LUNAUSDT chart. We can see that the price now is supported by the uptrend line. All this uptrend was in convergence with the volume (MFI indicator), but now we can see that the price formed the higher highs, while the MFI demonstrates lower highs. This is the bearish divergence.
If the price is able to clearly break down the weekly R1 pivot it can reach $16.46 level of strong support. This is a very safe level to place the buy order.
The confirmation of this scenario is the LUNABTC analysis on the chart below. We can notice also the bearish divergence with the MFI and the possible double top pattern. If this pattern plays out the weekly CPR level can be reached. The LUNAUSDT and LUNABTC price actions are related with each other, as a result the LUNABTC analysis invalidation means that the LUNAUSDT analysis should be updated. We will observe it and give you an appropriate information.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
Let's take a look at LUNAUSDT chart. We can see that the price now is supported by the uptrend line. All this uptrend was in convergence with the volume (MFI indicator), but now we can see that the price formed the higher highs, while the MFI demonstrates lower highs. This is the bearish divergence.
If the price is able to clearly break down the weekly R1 pivot it can reach $16.46 level of strong support. This is a very safe level to place the buy order.
The confirmation of this scenario is the LUNABTC analysis on the chart below. We can notice also the bearish divergence with the MFI and the possible double top pattern. If this pattern plays out the weekly CPR level can be reached. The LUNAUSDT and LUNABTC price actions are related with each other, as a result the LUNABTC analysis invalidation means that the LUNAUSDT analysis should be updated. We will observe it and give you an appropriate information.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
Nota
Trade chiuso: obiettivo raggiunto
Hello, guys! The correction was later than we supposed but the target of this correction $16.45 was reached. It bounced off this level exactly to the upside. We bought at this dip and now took profit at current week bottom CPR ($18.52). Now there are 2 possible scenarios for LUNAUSDT. The green scenario is going to play out in case of BTC price growth next couple of days, but now the bearish narrowing rising wedge is forming for the Bitcoin price. We suppose that another one dip is possible for the whole cryptomarket, in that case the red scenario for LUNA can play out. This is a nice opportunity for buying!
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Turn TradingView indicator & strategy alerts into automated trades on major crypto exchanges using no-code bots
Start free at skyrexio.com
Start free at skyrexio.com
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.