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Terraclassic

TERRA LUNA CLASSIC (LUNC) still bearish with bullish signs LUNC has been pushed down in the past few days by the double resistance trendline, breaking short term support levels in the process. I switched to 1-hour timeframe for finer detail but I still use the levels and trendlines from the 4H time-frame. I still consider the head & shoulders pattern to be the most significant influencing factor for this chart. I expect that we reach 0.00017 sooner or later. Still, we must always be preapred for a change of plans. I am not changing my bearish bias as long a the price stays below the red resistance trednline (the double-line). If it breaks up and manages to open and close a candle above the trendline, only then would I consider letting go of my H&S target price. I would still first wait for a daily candle close and another one to see if the trendline break was a fakeout or not. (if the second daily candle opens andcloses above the trendline, then I would expect that the trendline is no more valid) What suggest a potential trendline break? 1. price has been moving in a descending (falling) wedge for days now which is usually a bullish pattern (more precisely it signals the potential continuation of an otherwise bullish trend - which we had before price came down in the past few days) 2. bullish divergences are forming on the RSI and Stochastic RSI indicators - et least on the hourly time-frame. I would wait for confirmation onhigher levels, though... 3. another support level is coming in between 0.00022 and 0.00024 which used to play some part in price action in the past. After that, there nothing really to stop price from falling to 0.00017. Still, despite the bullish signs, we have no bullish action until the red resistance zone AND the red double-trendlines are broken with confirmation. Even after that I would prefer a retest in the following days to validate the break. Until then, I am sitting on my cash (took profits somewhere around 0.00037 when the support trendline break was retested) and waiting to see whether I an buy back at 0.00017 or if structure breaks and suggests another buy level...
LShort
by LaiChee81
2
TERRA LUNA CLASSIC (LUNC) looking more and more bearishAs stated before I have little confidence in any kind of bull-run for TERRA LUNA CLASSIC. You can see a summary of my reasons on the chart. My main reason for bearishness are the untested break of the past resistance line and the broken and retested support trendline (now turned resistance trendline). Also do not forget that the overall market is bearish over the mid-long term (6-12 months). I am not saying that crypto is poised to follow any market, I am just saying that in a recession people protect their money, look for hard assets that have proven long term to preserve their value - or at least suffer the least downside. Crypto does not have much history or proof in this area. It would not be my first go-to reserve asset... The recent CPI report has confirmed that we are still heading deeper into the recession, uneployment rate is increasing (as does the rate of applications) so I expect a bit more downside - lower lows on higher time frames. I am convinced that this recession will present wonderful long-term buying opportunities - later but not in the following days or weeks. If you are prepared to hold for the long-term, sure you can give it a try but there is no guarantee that LUNC will be around in the future. Just try to do a search for the most hyped cryptos of 2017-2018. Where are most of them today? So trade carefully. BTW, I did not short LUNC but sold a big chunk around 0.00037 and prepare to buy it back around 0.00017. It may never come to pass and price may skyrocket befor that, never to return again. But I have already made a decent profit on LUNC so I do not mind. Therewill be other assets and other trade opportunities in the market. ;-)
LShort
by LaiChee81
TERRA LUNA CLASSIC cooldown potentialAs the total crypto market cap and BTC approach an almost year-long resistance level and an also ascending trendline in the coming days or weeks it is time to think about possibilities of either breaking up from there (truly or just in a fakeout) or turning down from those levels. Considering what the charts show us on TERRA LUNA CLASSIC and thinking about the fundamentals - I am speaking about known facts and not the promises and hopes that may or may not come true - I wish to discover the potential downside of this token in the coming weeks or months. I may be wrong of course but I am considering taking some profits on the tokens I luckily managed to buy at way lower prices. From a technical perspective we can see that an ascending head and shoulders was drawn perfectly. Though this pattern is not as strong as a horizontal one it still has some potential. We can see that the neckline has recently broken down and the price has been stopped on the immediate support trendline just underneath. Now the question is whether this line will hold or not. It has a likeliness so I would caution anyone to short the market right now but I am prepared to place a stop-sell order somewhere under the trendline with a safe stop-loss somewhere above it. Another fact that reinforces my thesis is a past local high around $0.00017 that was broken but not yet retested. As you can see the current break of the neckline with the measurement of the head top and neckline distance would take the price exactly back to $0.00017. That or somewhat above that is where I would take my profit on the short position.
LShort
by LaiChee81
4
LUNCUSDT What to watch out on the short-term*** *** For this particular analysis on Terra Classic we are using the LUNCUSDT symbol on the KuCoin exchange. *** *** The idea is on the 4H time-frame where LUNC is extending the parabolic rise it has been on since the August 19 Low. As we mentioned in our previous analysis the break-out above the 1.0 Fibonacci level was an instant buy signal and the price is now approaching the next one, the 1.5 Fib extension. The 0.00045 Resistance from May 26 is now broken, so on the longer-term at least, a new pattern is emerging. On the short-term though, a sell near the 1.5 Fib on a tight SL on the Fib level exactly, can be solid with low risk targeting a little above the 4H MA50 (blue trend-line). A closing above the 1.5 Fib though would again be an instant buy signal, targeting the 2.0 Fib. On the other hand, a closing below the 4H MA50 (would be the first time since August 23), would be a sell signal targeting either the 4H MA200 (orange trend-line) or the 0.5 Fib (whatever comes first). On a side-note, notice the Channel Down on the 4H RSI and how well each Lower High and Lower Low have been excellent sell and buy entries respectively. Use this to your advantage. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
by TradingShot
4
LUNC targets*log scale Terra Classic is rising from ashes. It broke out of this triangle📐and my targets for longs being as follows: - TARGET1: height of the triangle projected from midpoint of the local range @ 0.00017090 - TARGET2: resistance @ 0.00025600 - TARGET3: resistance @ 0.00033200 Check my recent LUNC short-term trade 👇 Just a reminder how not being greedy can pay off 👇 Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence. an hour ago
Long
by bizmark
12
Terra Classic (LUNC) completing bullish Shark for upto 49% pumpHi dear friends, hope you are well and welcome to the new update on Terra Classic (LUNC) with US Dollar pair. In a 1-hour time frame, LUNC is about to complete the final leg of the bullish Shark pattern. There is also a hidden bullish divergence, as the priceline is forming a higher low, and Stochastic is setting a lower low. Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade
Long
by moon333
4
LUNC is on fire!🔥Please 1st of all smash the boost🚀 button to support my work if you like it! It's absolutely for free. Terra Classic being very generous cash💵 machine these days. To put things in context please see the idea down below first: So TARGET3 still yet to be hit. Now on lower timeframe (15m) the price is trying to break this local downtrendline resistance. Once broken we could see the run to my last target @ 0.000332, where I will be completely out waiting what's next. I see two possible paths (as shown). The blue/red uptrendline & TARGET2 should act as supports. I don't want to see price dropping below the orange support Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Long
by bizmark
LUNC another bullish setupPlease 1st of all smash the boost🚀 button and follow me to support my work if you like it! It's absolutely for free. Terra Classic is just breaking this triangle📐 and I think there is chance for run to the TARGET3. Setting BUY STOP-LIMIT order to range high to catch🎣 the breakout. ENTRY : local high @ 0.000283 STOPLOSS (SL) : local low @ 0.0002677 TARGET (TP) : height of the triangle projected from midpoint of the local range (BUY STOP-LIMIT - STOPLOSS) @ 0.0003319 REWARD RISK RATIO (RRR) : 3.2 INVALIDATION : when SL level hit For further reference see this... ...and this... Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Long
by bizmark
4
LUNC Head&ShouldersTerra Classic This is a follow-up the idea down below: After false break out of this triangle price dropped back down into the triangle, broke the triangle lower edge, formed Head&Shoulders pattern and broke it's neckline all of which is bearish at least in short-term. Fast moving/changing market. Neckline corresponding with TARGET2 and H&S TARGET corresponding with the TARGET1. TARGET1 & TARGET2 come from this idea: Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Short
by bizmark
1
LUNC rising from ashesTerra Classic breaking out of this triangle📐 with target @ 0.00017090. Setting BUY LIMIT order to previous range midpoint to catch🎣 the pullback. ENTRY : midpoint of previous local range @ 0.00015660 STOPLOSS (SL) : local low @ 0.00015187 TARGET (TP) : height of the triangle projected from midpoint of the previous local range @ 0.00017090 REWARD RISK RATIO (RRR) : 3 INVALIDATION : when SL level hit Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Long
by bizmark
8