Hello Traders,

If you take a look at the last trade entry that I posted, it was a long setup for LUNA. As you can see LUNA got a bounce as expected and hit our target profit level perfectly. Being as LUNA was one of the most oversold coins in cryptoland it was only a matter of time before a large bounce came…
But what’s next?
– I think LUNA is heading for $103- $104 for 3 reasons…
1) It is the .618 which is a common profit taking level.
2) It coincides perfectly with the ascending trendline which acted as support on the last rally up.
3) $103 is the level of 2 major tops creating major Resistance.

Short Trade Setup
– At some point LUNA will have to pullback. I believe that level is $103 -$104.
– Most likely Luna will retrace to the .382 FIB which is also support.
– ENTER at $103 and add more up to $105 depending on where LUNA hits the ascending trend line .
– Set a stop loss ($112 for example)
– Take profits at the .382 FIB which is at $92.69 for an 11.6% gain.

Happy Trading and Good Luck!