LUNABTC has been on a rocket path in the last month, offering a clear Elliot Wave structure and we appear to be entering a 5th Wave.
LUNAUSDT has been on a similar path but has been subject to the overall downside volatility of the wider crypto market, while LUNABTC has seen a smoother path up.
The more conservative option could be to wait for a break of the previous high for confirmation, but the Risk/Reward payoff could be high for a long entry now with a stoploss below the bottom of the pullback.
The alternative view would be a potential lower high here if buyers run out of steam before the breakout, which why waiting for a break of the high would be a safer entry point for longs.
LUNAUSDT has been on a similar path but has been subject to the overall downside volatility of the wider crypto market, while LUNABTC has seen a smoother path up.
The more conservative option could be to wait for a break of the previous high for confirmation, but the Risk/Reward payoff could be high for a long entry now with a stoploss below the bottom of the pullback.
The alternative view would be a potential lower high here if buyers run out of steam before the breakout, which why waiting for a break of the high would be a safer entry point for longs.
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