Rune looks good here on the 2hour at trendline support, bullish divergence cmf and macd, bullish bat with a bullish crab as a higher low, rune to bitcoin chart is also displaying 2 nested harmonics at their pattern completion zones. thats enough confluences for me to go long, i gave you stx 30% move in 2 hours after posting a mega pump was imminent, now im giving you RUNE
RUNE has been chopping for almost two weeks now. It's almost time for an ATH.
Since the crypto market is in shambles, RUNE may test a lower low (10.5 - 9.7). It may also just go direct to the higher levels.
Expect chop and set levels accordingly. This is not financial advice.
Resolution time: 7 days or less
This is a pattern that eventually leads to price stabilization.
Bullish target: 10.9 → small pullback to ~10.00 → 13
Bearish Case: Hard floor: 8.8 → If broken, 7.5
Time frame for pattern: 10 days or less
Ever since the 80%+ run up, RUNE has been in a consolidating wedge. I expect resolution time to before April 8th, risk/reward points to bullish.
Target: 10.5 -> 11.8 --> 12.5
Resistance: 9.2 - 8.8 - if broken, wedge is invalidated.
Event risk is always one of the most profitable but also riskiest market opportunities. In this case, due to the extensive testing...
If you misssd rune your chance is now with alpha. Rune formed a massive ascending triangle weeks ago while at a 150-200 million market cap. Alpha is printing the exact same structure with a $400 million market cap and much more to come. Do as you please
Reasons to sell
Overextension of the RSI on the 4hr
Bearish DIV on 1hr and 2hr
Last time we saw a move like this was 04 Nov 2020 with a 20% correction happening
Strong resistance at $6
Head and shoulders still intact (but subject to change as we are in a bull run and this is a bearish pattern) low success rate in bull runs
Could see price revisit $4.80
Price has gone up around 15% since yesterdays analysis, however i still see there being further downside on this pair. While this has gone up, ETH and LTC have stayed relatively stagnant, while BTC is currently ranging between 50-55k.
As shown on the chart we can see a head and shoulders pattern has formed along with a hanging man at the strong resistance level...