✴️ Is Terra Classic Correction Over?

1月5日

It is possible. Let's look into the signals.

Terra Classic (LUNCUSDT) produced a major 500% bullish wave after hitting a low in August 2023. The entire process lasted 109 days.

From the August low to the start of the meat of the bullish move, the consolidation phase, lasted 63 days. So the strong rise lasted a little more than a month.

After such strong growth we have a classic correction, very steep, that wicked below 0.786 Fib. retracement level. This low can be compared to the August low. Meaning, that it can be followed by a consolidation phase, long or short in duration, and then a new bullish wave.

The way the action will develop can vary wildly and there can even be another low before the next move but still ending as a higher low compared to last year; Long-term bullish.

The correction can be over, but it can take weeks or months before the next high shows up.

Namaste.