LunC Short term Pull back

2022年8月26日

Looks like a 5-wave minor 1 has been completed. Probably a "sell the news" event due to staking being re-activated. Expect a pullback now for a week or 2 before the next leg is kicked off by the on-chain burn tax news.

(I was unsure of the actual wave 2 minor ending which is why I have marked out the 2 possible end points - not that it matters or affects the count. Purely pedanticism.)

2022年8月26日

註釋

Looks like we are finishing up an elongated B wave. Ready for the C.

2022年8月27日

註釋

lunC still has a close relationship with USTC.
Looking at USTC it has done a simple abc correction. LunC could also have finished a high retracing (bullish) abcde. I will be sceptical until it breaks the 1.0 line again and continues up however. Either waiting for the .618 area to start averaging back in or the 1.0 break out to rebuy.

USTC:

2022年8月28日

註釋

The price action still needs to break out the 'flag' set up but it looks like it could have done an abcde. I'll be more bullish providing a break out of the symmetrical triangle (which isn't guaranteed at this point!):