what you should expect as RUNE is flipping bearish.
in my previews article https://www.tradingview.com/chart/RUNEUSDT/nKwnRZLX-Why-i-am-buying-RUNE-USDT/ published on April 4TH 2022 i highlighted possible bullish and bearish scenario, pinpointing a double top that can send the price below the ascending channel
As fate may have it the double top pushed the market downward from 6.870 to 6.712 as when writing this article.
As RUNE is flipping bearish, these are things am taking into account
1) bearish: i can see the double top been retested at 7.206 twice
2) connecting the retracement fib from (WAVE A) all time high to the mid section (lower low) (WAVE B) which is the bottom of the double top, i could see the next wave C already in play to complete the corrective wave.
2) bullish: the yellow dash line which is the weekly bearish handle serving as support since 12th April, the bulls have to hold the price above 6.500. and push it to the upper side from 8$ to 10$
however if daily price closes below 6.5 then we could see a massive decline from 4$ to 1.8$ which would be the next channel support.
which ever scenario you wish to play with always trade safe.
always practice risk management.
As fate may have it the double top pushed the market downward from 6.870 to 6.712 as when writing this article.
As RUNE is flipping bearish, these are things am taking into account
1) bearish: i can see the double top been retested at 7.206 twice
2) connecting the retracement fib from (WAVE A) all time high to the mid section (lower low) (WAVE B) which is the bottom of the double top, i could see the next wave C already in play to complete the corrective wave.
2) bullish: the yellow dash line which is the weekly bearish handle serving as support since 12th April, the bulls have to hold the price above 6.500. and push it to the upper side from 8$ to 10$
however if daily price closes below 6.5 then we could see a massive decline from 4$ to 1.8$ which would be the next channel support.
which ever scenario you wish to play with always trade safe.
always practice risk management.
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