Terra / TetherShort
A Technical Reason to be out of Luna
Hi Traders,
Back in August-September 2020, Terra (LUNA) experienced an Ascending Head and Shoulders patten which resulted in the price falling back to the trough of the first shoulder. This didn't matter because then Luna rallied beyond peoples expectations right after. However, this is important because we are experiencing a very similar pattern at the moment. Now from the looks of it, the fractal and target of the ah&s pattern looks like we will probably fall to $52 per Luna by Feburary 1st. This would be a great buying opportunity howver in the immediate short term.. if LUNA manages to break support, I think a 3x short isn't a bad move! Anyways, hope this helped.
Safe trading,
-Pulkanator
Back in August-September 2020, Terra (LUNA) experienced an Ascending Head and Shoulders patten which resulted in the price falling back to the trough of the first shoulder. This didn't matter because then Luna rallied beyond peoples expectations right after. However, this is important because we are experiencing a very similar pattern at the moment. Now from the looks of it, the fractal and target of the ah&s pattern looks like we will probably fall to $52 per Luna by Feburary 1st. This would be a great buying opportunity howver in the immediate short term.. if LUNA manages to break support, I think a 3x short isn't a bad move! Anyways, hope this helped.
Safe trading,
-Pulkanator
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.