Bitcoin (BTC) failed to get $ 30,000 back on May 14 as traders were rejoicing on a fairly smooth weekend.
Long positions on Bitfinex are getting stronger
Data from Cointelegraph Markets Pro and TradingView tracked the BTC / USD pair going below the $ 30,000 mark, which is rapidly rising against resistance.
The pair had hit just under $ 31,000 before falling back as the traditional end of trading week hit the markets with fresh warnings of a new low macro coming.
#Bitcoin – It looks like we could get the inverse S&S before the weekend. Expect to see this 4h candle and push it up. Then I move stops in profit and let him ride over the weekend. 2% risk, 2% stop-loss. pic.twitter.com/lxRuk3M43G
—IncomeSharks (@IncomeSharks) May 14, 2022
#Bitcoin – It looks like we could have the H&S reversed before heading in for the weekend. I hope to see this 4 hour candle and see it grow taller. Then I move the stops into a profit and let it go over the weekend. 2% risk, 2% stop loss. pic.twitter.com/lxRuk3M43G
– IncomeSharks (@IncomeSharks) May 14, 2022
Not everyone was aside when the storm passed. On the Bitfinex exchange, the leverage of the long sites continued to expand, having already reached all-time highs.
“Another day has passed and Bitfinexors continues to load like someone has a gun,” they say replied commentator Johal Miles next to a graph showing the trend.
Terra’s plans provoke frantic movements on LUNA
However, more attention was paid to the Terra blockchain LUNA signal protocol throughout the day.
See also: BitKwonnect? Terra Inflates 3,500% Overnight Signal Supply Through Operation “Luna Brothers”.
After losing almost all of its value in a week, the LUNA signal saw a small bounce from its all-time highs above $ 100, but it was extremely profitable for short-term traders.
Although its supply increased to 6.9 trillion tokens, LUNA then increased by 100 from its floor price, following the announcement that the creator of Terra intended to “relaunch” its ecosystem.
In the face of this price movement, there was still a lot of disbelief.
(only need a few more 100x to get $ 1 back)
—Luke Martin (@VentureCoinist) May 14, 2022
(You only need another 100x to get $ 1 back)
– Luke Martin (@VentureCoinist) May 14, 2022
“The volatility of $ LUNA is absolutely insane,” he said said Cointelegraph contributor Michaël van de Poppe said it was “a great weekend to do some scalp trading.”
Although trading on the Binance exchange has already stopped, the LUNA / USD pair is still a very risky addition to a portfolio, with prices fluctuating wildly from minute to minute and from one exchange center to another.
Those who bought most of the events during the week had almost complete loss of their jobs.
I really don’t think Luna is a buy and hold at the moment, it’s a dangerous play in and out. I have no clue what will happen to it.
Be careful if you want to trade it!
—Altcoin Gordon (@AltcoinGordon) May 14, 2022
I really don’t think Luna can be bought and kept right now, it’s a dangerous game in and out. I have no idea what will happen to Luna. Be careful if you try to negotiate it!
– Altcoin Gordon (@AltcoinGordon) May 14, 2022
At the time of writing, the LUNA / USD pair was trading at $ 0.027 on Bitfinex, having hit $ 0.034 earlier in the day, 593% higher than the week ‘s low level (0. $ 0049).
The views and opinions expressed herein are those of the author only and do not necessarily reflect the views of Cointelegraph.com. All investments and trading operations involve risk. You should do your own research before making a decision.