Here's a look at Thorchain, ticker $Rune
This looks like it an incomplete wave 2, having completed the X leg after getting rejected below the 88.7% fib. The corrective fib (multi color) and the impulsive fib (orange) line up between 1.60 and 1.20. This matches up with an Inside pitchfork, on the 2nd S.dev (standard deviation) line...the pitchfork isn't shown here to keep things a little cleaner.
Time target for the bottom is between beginning of February to mid April. These dates are also where the 2nd S.dev line intersects the two fibs, so we have some technical confluence.
There should be trade opportunities in between for those that want to swing this coin. I've labelled the 3 wave corrective move to come where it coincides with the supply and demand zones as well as the median and 1st S.dev lines of the pitchfork. Roughly the targets are $3.50 and $10, though i cant be sure of the time frames, likely Dec/Jan i think.
If you're a long term crypto bull and want some alt exposure to (as i understand it) a solid project, this would be a great opportunity to load up. I should mention that im not a crypto dev and dont know much about the technical aspects of this token, but i've heard from some crypto devs that its a solid project, unlike a lot of the Doge clones popular with the kids these days. But as always, DYDD as this is not financial advice.
This analysis is invalidated if $Rune crosses $21.60 or falls below $1
This looks like it an incomplete wave 2, having completed the X leg after getting rejected below the 88.7% fib. The corrective fib (multi color) and the impulsive fib (orange) line up between 1.60 and 1.20. This matches up with an Inside pitchfork, on the 2nd S.dev (standard deviation) line...the pitchfork isn't shown here to keep things a little cleaner.
Time target for the bottom is between beginning of February to mid April. These dates are also where the 2nd S.dev line intersects the two fibs, so we have some technical confluence.
There should be trade opportunities in between for those that want to swing this coin. I've labelled the 3 wave corrective move to come where it coincides with the supply and demand zones as well as the median and 1st S.dev lines of the pitchfork. Roughly the targets are $3.50 and $10, though i cant be sure of the time frames, likely Dec/Jan i think.
If you're a long term crypto bull and want some alt exposure to (as i understand it) a solid project, this would be a great opportunity to load up. I should mention that im not a crypto dev and dont know much about the technical aspects of this token, but i've heard from some crypto devs that its a solid project, unlike a lot of the Doge clones popular with the kids these days. But as always, DYDD as this is not financial advice.
This analysis is invalidated if $Rune crosses $21.60 or falls below $1