THORChain 123 | 1-Bottom Pattern 2-EMA Rejection 3- Bullish Peak
THORChain (RUNEBTC) one, two and three.
The (1) is the bottom pattern.
We have a lower low followed by a bullish breakout.
This would be wave 1 of an EW impulse.
The (2) is the EMA100 rejection.
After a bullish breakout, it is normal to see a correction that ends in a higher low before higher prices.
The low would be equal to wave 2 of an EW impulse.
The (3) is the bullish wave peak.
This would be wave #5 of an EW impulse and a classic correction would follow this whole set up.
In conclusion, THORChain will also grow.
Namaste.
The (1) is the bottom pattern.
We have a lower low followed by a bullish breakout.
This would be wave 1 of an EW impulse.
The (2) is the EMA100 rejection.
After a bullish breakout, it is normal to see a correction that ends in a higher low before higher prices.
The low would be equal to wave 2 of an EW impulse.
The (3) is the bullish wave peak.
This would be wave #5 of an EW impulse and a classic correction would follow this whole set up.
In conclusion, THORChain will also grow.
Namaste.
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