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Happen so we get a bullish scenario because right now Luna classic is still at an important support and we also have a potential pattern in the charts which we also will start with um because maybe this actually now is invalidated but let’s get into all of That in this video and if you like these videos guys please give it a like subscribe to the channel so you show YouTube that you like these updates every single day and now let’s not waste any time and let’s get into the update let’s get into the pattern which I just Mentioned and that is of course this potential W but with these W patterns what you usually want to see is that the both legs right this part is the same length like the second part but what we can see now the first part was 2 days And 20 hours while the second part is already three days and 20 hours so already 24 hours longer but of course we just have weekend right now and that might be the reason for this to overall be delayed so I would still give it a shot if we know in the Next 24 hours actually get above this level right essentially um above zero zero zero zero nine six five four let me add this here and if we then really get above this we could still consider this a w maybe not the cleanest W but it’s still a double bottom and That is the most important part here right we have this double bottom bullish reversal pattern pattern at the very bottom but I think for this to actually play out this should happen in the in the next 24 hours and let’s just forgive Luna classic because right now it’s Weekend and because of the weekend not too much is happening in the charts right but if that does not happen in the next 24 hours it’s very clear to me that this pattern is over invalidated and then we would all will have to look for Um you know new bullish signs so far the price action on lunar classic has actually been pretty decent we got some strong reactions down here and what is also great to see now let me uh get rid of these timers here but it’s really great to see in my Opinion is the volume increase we can clearly see that the buying power especially at the bottom like we can see right here increase a lot and when you see Heavy buying added support that really means that people are interested in holding this level right we don’t want to drop alone Now of course this is still the most important support and if we actually lose this that would be really really horrible for the overall price of lunar classic because the next support will actually be down at 34 but for now we are still inside this area we still have The potential of playing this W out so what we want to wait for now is that we really see a strong push Above This level and really retest this um this neckline or this top of this pattern at around 9593 right so when I get above Retest and then we can trade this to the upside and by the way if you also want to trade a lunar classic make sure to check out the next scene that is also where I’m trading and most people 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low anywhere else so big shout out to Maxi for making this possible also they have right now really nice competition for Traders where you can win 5 million dollars in the prize Pool so check them out the link is in the description and now let’s continue with the update of Luna classic because still we are below some very important levels and I have mentioned it in the last videos too that I don’t see any reason to turn bullets Because we are still below the EMA ribbon the EMA ribbon acting as a resistance consistently since the 19th of April so it’s a pretty big level that we still have to cross to the upside almost one month as a resistance and the thing with EMA ribbon is that the it’s Acting as a dynamic resistance right the lower we go the Lord EMA ribbons are as well and we can clearly see it was acting as a resistance back here just like it is doing exactly right here right we barely just Wicked above was you know just a Very small rig but then we went all the way down we traced this whole move and yet again we are right now retesting it so am I I’ve already said it right now it’s weekend so on the weekend we don’t really expect any crazy price movements but then The next move is really going to decide what’s going to happen if we break above the EMA ribbon I think it’s very very likely we’re gonna actually play this out and go up higher but if we really draw below the Mi room and then also most importantly below our supports on Essentially below 8509 we really must see a quick recovery if we drop below and see two red consecutive candles it’s a very high chance and very big signal that we will see lower prices now here we can see uh lunar classic managed to recover this drop to the downside all of This Zone and this is then basically what we have to see again right we luckily didn’t have any two consecutive red candles but if this really is going to happen very very high chance of actually dropping down further so pay attention to that right now lunar Classic is still in this size of both scenarios are possible we are inside a very big Zone this is a macro zone right I showed it to you already this is a really big Zone look at these weeks look at the supports on right it’s massive Even though we had this massive wig back here this we covered under literally the same day but right now I think the daily chart emphasizes this very uh very clearly that we were kind of just going sideways at the moment we have big moves up and Down so um really it’s kind of a an interesting environment to say the least it’s not very clear where lunar classic wants to head next we can see we have a deviation below we’re going up deviation above going down deviation below and right now we’re just exactly in the middle so Not necessarily the moment where you want to position yourself we want to wait for a clear break either to the upside or to the downside also if we not drag this channel out not sure if this is still active and if you remember back here we predicted this rejection up here With this channel but for now it actually seems like it’s not really that much respected anymore I mean we had a reaction back here another one by right here but I’m not sure if this is still going to be important I will leave it in for now We’re gonna see what the reaction is going to be once we actually get to that level now the 200 EMA on the one hourly chart was acting as a very clear resistance on the 10th and 11th of May you can clearly see that right here also perfectly aligning With this top of this potential w uh but yeah I think even on the one hourly chart this kind of um makes it a bit more clear that this is not necessarily the best W pattern anymore maybe one we would have wanted to finish this last leg to the upside Basically yesterday right we don’t want to see us going sideways in a w pattern so yeah unfortunately this does not really seem like it’s active anymore but still overall Luna classic still in a very big level and a very big support Zone which is definitely important now on coin Market cap we can see lunar classic trending again on rank 13 no 14 not 13.uh volume down 53 which is kind of to be expected on the weekend right there’s nothing crazy nothing unlikely overall since the last 24 hours literally nothing has happened 0.03 percent or literally no change so you Can also see that in the charts we started back here at the 8934 and right now we are at eight nine four so basically we are basically back to where we started even though we had some small moves to the downside but I think especially on these line charts on Quinn market cap this really emphasizes literally nothing happened right we had exactly where we where we started and that’s also kind of why I don’t trust weekend moves right we have these big swings too the upside to the downside but then we go back to the Middle and it’s just a whole lot of nonsense no the burning um we talked about this here we had a pretty good phase last week um that was really good like for example 400 million 237 million 95 million 200 million 150 million 100 million but it’s getting slower again right if we can Burn consistently every day at 400 million that would be absolutely incredible but looking back this is still everything of this is still better than this phase right this was absolutely nothing going on 12 million 26 30 million there’s like a 10x from that point right it’s really good to see But we now need to keep this rate up of course to really burn everything through consistently but for now we got to remain patient wait for the next levels and yeah if you like these updates don’t forget to give this video a like guys subscribe to the channel so you’re Always up to date and also guys if you want to trade this make sure to check out Maxi lowest fees really nice bonus for our community the link is in the description and that’s it for this video see you in the next one goodbye 📈 *Trade on MEXC with 0% maker fees and get a $9100 bonus:* 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