RUNEUSD Major bullish break-out above the 1 year pattern.THORChain (RUNEUSD) broke above the top (Lower Highs trend-line) of the 1 year Falling Wedge pattern (since the August 11 2022). This is a major bullish break-out, considering that the price also broke above not just the 1D MA200 (orange trend-line) but also the 1W MA50 (red trend-line) for the first time since April 26 2022.
As long as the 1.7250 - 1.9750 Resistance Zone holds, we expect a better buy opportunity back on the 0.382 Fibonacci retracement level assuming the 1D MA50 (blue trend-line) supports. The long-term target is 3.15000 (Resistance 3).
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RUNEUSD trade ideas
โด๏ธ THORChain [NYA]We have a classic pattern here for RUNEUSDT (THORChain).
The Adam & Eve pattern is a bottom formation and here we can appreciate a break and close above EMA50 as well.
This can both confirms the bottom and pattern as having a bullish breakout.
(Supported by high volume not shown on this chart)
The MACD has gone bullish and the RSI is super strong above 60, daily timeframe.
RUNEUSDT can easily move to 1.90 short-term, medium-term it can go above 5 or even 6 with much more potential available in the long-term.
Namaste.
Meditations of the stoic emperor I buy with few amounts every month cause in this case fomo is sacred, fomo is not bad for hundreds of KX or tens of KX as long as 1 is valid
Wave 3 is not the shortest wave and since the higher the price is the higher the bubble will be i think the target is 1.27 & 1.618 possibly higher levels, study fundamentals
My guestimate for buying huge is 0.618 but the bear might go to the cave at 0.5 on rune since btc might turn bullish
Do as you think it is right cause at the end it is relatively right
Long live the holder
RUNEUSD Is preparing a major bullish moveTHORChain (RUNEUSD) has been trading within a Channel Down pattern since the June 13 2022 (weekly) low inside a longer-term Bearish Megaphone since the May 17 (weekly) High. The 1W LMACD is close to forming a Bullish Cross. If completed, the short-term target will be the 1D MA200 (red trend-line). A break above the 1W MA50 will further be a bullish break-out signal, targeting the top (Lower Highs trend-line) of the Bearish Megaphone.
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