$RUNE to break upper trendline for Double Extension 5th Wave
RUNE
price action relates to two impulse 5th wave extension in Elliot Wave.
1. A Typical 5th Extension where the 5th wave stays under the trendline then make it corrective waves, or
2. A Double Extension impulse where it breaks the upper trendline to a max of 261.8% Fib.
Somehow it did however showed some characteristic of Double extension during wave 3, finishing above 1.618% , with wave 5 just under 161.8% of wave 3.
Breaking the upper trendline will confirm its structure.
Moreover RUNE did retraced a significant amount around 31% after wave 3, and ended in a c-wave failure.
Some caution though, as extended 5th wave will often break the upper trendline only to quickly retrace 61.8% - 95% of the entire 5th wave.
Interesting to see how this will play out as most of the its run is contributed by a great product market fit, by means of cross-chain Decentralized Exchange using Streaming swaps of native BTC, ETH.
1. A Typical 5th Extension where the 5th wave stays under the trendline then make it corrective waves, or
2. A Double Extension impulse where it breaks the upper trendline to a max of 261.8% Fib.
Somehow it did however showed some characteristic of Double extension during wave 3, finishing above 1.618% , with wave 5 just under 161.8% of wave 3.
Breaking the upper trendline will confirm its structure.
Moreover RUNE did retraced a significant amount around 31% after wave 3, and ended in a c-wave failure.
Some caution though, as extended 5th wave will often break the upper trendline only to quickly retrace 61.8% - 95% of the entire 5th wave.
Interesting to see how this will play out as most of the its run is contributed by a great product market fit, by means of cross-chain Decentralized Exchange using Streaming swaps of native BTC, ETH.
Comment:
Still no impulsive correction for
RUNE
, still on trend.
Comment:
Comment:
Most likely the wave 2 is currently happening. If major impulse happened to break upper resistance, will confirm double extended wave 5 for
RUNE
Comment:
Possible w3 of W5 in the making or w2 of W5.
Comment:
Looks like another extended impulse here, w2 of W5