$LUNC to $0.05 ...the update
๐ Green zone resistance
-Each time price revisits resistance, some resting sell orders are absorbed by buyers.
_Sellers are failing to push price significantly lower after repeated tests, it can indicate WEAKENING SUPPLY๐ฑ
there are two important conditions:
๐ขMULTIPLE TOUCHESโ โ
increase the probability of a breakout.
But only if buyers continue to defend the higher lows and VOLUME expands during the breakout.
๐ Right now:
Price is spending more time underneath it instead of being sharply rejected, which suggests buyers are absorbing supply.
๐ The triangle
Price is being squeezed into the apex.
If LUNC closes convincingly above:
the descending trendline and the green resistance zone,
the measured move is approximately the height of the triangle projected UPWARD.๐๐๐๐๐ฐ
๐ Green zone resistance
-Each time price revisits resistance, some resting sell orders are absorbed by buyers.
_Sellers are failing to push price significantly lower after repeated tests, it can indicate WEAKENING SUPPLY๐ฑ
there are two important conditions:
๐ขMULTIPLE TOUCHESโ โ
increase the probability of a breakout.
But only if buyers continue to defend the higher lows and VOLUME expands during the breakout.
๐ Right now:
Price is spending more time underneath it instead of being sharply rejected, which suggests buyers are absorbing supply.
๐ The triangle
Price is being squeezed into the apex.
If LUNC closes convincingly above:
the descending trendline and the green resistance zone,
the measured move is approximately the height of the triangle projected UPWARD.๐๐๐๐๐ฐ