Luna has touched $52 twice over past 6-7 weeks. This last dip brought us to $53.70.
There are def buyers there (likely liquidations getting filled on Kujira or combination of both)
So this could be a triple bottom.
According to Rule of Three: If it touches a key support 3 times, take the trade in the opposite direction
Source YT: Top Dog Trading - Stochastic Momentum Index Indicator for Safe Trade Entries - min 1:28 (cant post link in trading view)
a close above $64 on 4 hour and above 7 EMA mayb a LONG signal.
Why I'm not crazy about it is last 3 4h candles have long rejection wicks.
And 7D EMA is rejecting.
This is either sellers getting out bc they anticipate a move downward or short sellers.
Either way the conclusion is the same: Need to clear thru those sellers to move upward.
On the contrary, a revisit of mid 50s may go to the downside, esp if it coincides with FOMC.
There are def buyers there (likely liquidations getting filled on Kujira or combination of both)
So this could be a triple bottom.
According to Rule of Three: If it touches a key support 3 times, take the trade in the opposite direction
Source YT: Top Dog Trading - Stochastic Momentum Index Indicator for Safe Trade Entries - min 1:28 (cant post link in trading view)
a close above $64 on 4 hour and above 7 EMA mayb a LONG signal.
Why I'm not crazy about it is last 3 4h candles have long rejection wicks.
And 7D EMA is rejecting.
This is either sellers getting out bc they anticipate a move downward or short sellers.
Either way the conclusion is the same: Need to clear thru those sellers to move upward.
On the contrary, a revisit of mid 50s may go to the downside, esp if it coincides with FOMC.