I found the short signal on LUNA on the daily chart. To be honest it is not too strong, but we can try because risk to reward is nice.
As I told you earlier the True Divergence with MACD or Elder’s Force Index is the strongest signal in TA. Here is the Divergence with the second one. I revealed that on Bitcoin this signal is perfect, but on the altcoins we need test. Let’s start with LUNA. Well, we can see how it performed earlier. There were two signals on the history: the peak, rally to the 50MA and new higher high and the dump after that.
Now we can see that all conditions for short are met. The trade attributes are following:
Buy: current price ($99.50)
Take profit: $79.51
I want to calm down LUNA’s fans and tothemooners, I don’t think that it is the global LUNA downtrend beginning. We should see the stronger bearish signal on the daily or weekly timeframe. When it is the time I will tell you!