A brief analysis of the MOON chart.
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![[IMAGE]](https://b.thumbs.redditmedia.com/MrJJ6Zrb7FTZaSL2a-uUMAQ-WKC93XzbcLl1s5VTj2s.jpg) | Previously, we printed a Yearly close with a value of 0.07705 on MEXC. We made a convincing attempt at a bull run, but were thwarted, back to the Yearly close. This close provided the absolute low, which led to quite the pump. Now we all know that MOON has been quiet and essentially dying off for some time. So how much time exactly? The first image shows the timeframes from printinig the Yearly close, to the peak, the low and the second peak. The second image shows the current market condition, with an identical Yearly close printed. The moves from the first image are overlayed in a bar pattern, and the current timeframes are shown. The 2023 pattern had a high printed March 19. The 2024 pattern printed it on March 20. The yearly level was visited previously on June 15 2023, which was the ultimate low before the move up. The current low is on June 20 2024, the Yearly level not visited yet. The moves are closely mimicking the previous year, in time. Not so much in size, these moves are a bit more wild. This is not meant to influence any decision whatsoever. This is what I see in the charts, and I thought you all might find it interesting. I have some MOON already, but I will not be buying any more just based on this. I like to explain what TA is with an analogy. It is just like predicting the weather, using cloud formations. This is accepted science. Certain patterns in the clouds, are likely to lead to rain. Nothing is definite, but over time statistics show a likely outcome, under a certain set of conditions. That is all that technical analysis is. Identifying a set of market conditions, and reviewing what these conditions lead to previously. Then use that data to aid in your decisiton making for the future. Personally, this is not enough data for me to undertake any further risk. But it is very interesting. [link][comments] |
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