🔥 LUNA Broke Macro Bullish Pattern: More Downside Coming

١٨ أبريل ٢٠٢٢

In my last LUNA analysis I stated that LUNA was likely to keep increasing in value until the top resistance of the ascending wedge pattern had been reached, assuming BTC would stay stable/bullish. However, since then BTC has been falling and LUNA has followed.

As of recent, the macro bullish pattern has been broken (blue). In my view, there's a high probability that LUNA will keep on falling in the near future. Next area where I'd be looking for a bullish entry would be the purple support line, around $60.

Happy trading!