Technical analysis

    Terra Classic LUNC – Last wave before a dump! | Elliott Wave

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    LUINC on the 4h chart
    • LUNC is now a very hot altcoin, but it looks like the uptrend will end very soon.
    • If you want to buy LUNC, then wait for a pullback, at least to the start of wave 4.
    • As per my Elliott Wave analysis, this huge impulse wave is pretty much done because we are in the last fifth sub-wave.
    • As you can see on the chart, wave 2 was a triangle. You may say that wave 2 cannot be a triangle because it’s on the public internet as a rule. But this information is incorrect. Wave 2 can be a triangle, wave 3 can be an impulsive diagonal, and sometimes wave 3 can be the shortest wave, believe it or not.
    • I think LUNC will go much higher, but first we should have a correction that can last a few weeks or months.
    • Elliott Wave theory is a very powerful technique when volatility is high. On the other side, when the market is going sideways, it’s losing its power.
    • https://www.tradingview.com/chart/LUNCUSDT/SFpZA49q-Terra-Classic-LUNC-Last-wave-before-a-dump-Elliott-Wave/
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    Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.