RUNE Macro Upronpitchfork using price data from Bitmax (not available on tradingview).
it look good. I fully expect a low to come before it has another upron, planning on daily cost averaging in at fib pitchfork levels. I don't see it reasonably going below the pitchfork 1.5 (lower purple line).
Farting
Potential Upronner TrapGME's strong downron from 160 indicates that upronner sentiment is wavering. This chart estimates potential highs for the next period of upward pressure using a fib retracement. As in the 2 hour chart the white energy looks to be closing before the Red RSI in the 4 hour falls below fifty, it seems that upward pressure will continue for a bit, but if it fails to retake the previous high (160$) a large downron is likely imminent, although even closing slightly above the previous high could still result in a downron. These points are likely invalidated and position should be reevaluated if there is a close above 160$, however this seems unlikely. The reason this post is labeled as "neutral" is that a short-term long play could be made on the potential upronner trap.
Translations for philistines:
Upronnish = "Bullish" or long
Downronnish = "Bearish" or short
