RUNE/USDT has formed bearish flag pattern + It also broke support of (≈)3.274.
BTC also looks bearish now, so it might be time to short RUNE/USDT after it successfully breaks support with conformations(Bearish candlestick patterns).
BTC has broken its support and formed bearish engulfing candlestick pattern in daily chart(still the candle hasn't closed, so wait...
#Rune Analysis on demand 4hr TF with supp & resis.
ON Demand @AngryTrader6299
keep an eye on #BTC + Trendline
The #rune is near its resis, if the candle close above $8.220 then the next resis is near at $9.926 and nxt $11
If #rune get rejected then supp are $7.177 / $6.230 /$5.309
Enjoy your analysis
- Rune has corrected down from its ATH of ~$21.5 to the bottom of the channel at $3
- It then broke out of the downtrend on Oct22-23 (first green arrow)
- It has formed a double bottom as on 19th Nov
- Showing strength for a long term hold
Can expect a 5X based on Fib 4.23 towards Dec-Jan
Just spotted a bullish divergence on pair BINANCE:RUNEUSDT and BYBIT:BTCUSD and had taken the trade. Our T1 was hit at $ 7.076 and expecting price to hit T2 at $ 7.52.
