Rune 1W Analysis:
- Rune has shown an impulsive move staggering gains of around 200-250% from our entry
- Rune currently is at a weekly supply
- Mitigation of that weekly supply can lead to a 20-50% retracement.
- IMO Rune can first pierce the weekly supply trap Buy side liquidity and then start dropping.
- Do not FOMO here rather just observe and try to be a...
- 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
