I don't follow much RUNE, to be honest I haven't checked many altcoins lately because of this uncertain market influenced by the war, however I've been asked to check RUNE so here we are.
Over the last 13 days RUNE had a gread pump (that explain why it kept popping on my social's feed) but as you can see it has currently bounced on the EMA 200 and has currently retraced a bit, in a zone where as you can see, in the past there was a good amount of trades (check VLPR on the left). Also, there's a noticeable DIV on OBV, it could either be an hidden bullish or a bearish DIV, I'm more inclined to think it's the latter.
On the 4h (I'll add a screenshot in the comments) price has reached a zone with poor liquidity and that's why it wasn't able to breach over EMA 200. Always at this timeframe there's a possible Elliot Wave harmonic pattern in formation with wave 3 ended, which could increase the possibility of a retracement (wave 4).
Right now I would look for a good entry point for a short or, in case I have some, I'd sell mine at profit. If I'm wrong at least you locked your profit.
Good luck
Over the last 13 days RUNE had a gread pump (that explain why it kept popping on my social's feed) but as you can see it has currently bounced on the EMA 200 and has currently retraced a bit, in a zone where as you can see, in the past there was a good amount of trades (check VLPR on the left). Also, there's a noticeable DIV on OBV, it could either be an hidden bullish or a bearish DIV, I'm more inclined to think it's the latter.
On the 4h (I'll add a screenshot in the comments) price has reached a zone with poor liquidity and that's why it wasn't able to breach over EMA 200. Always at this timeframe there's a possible Elliot Wave harmonic pattern in formation with wave 3 ended, which could increase the possibility of a retracement (wave 4).
Right now I would look for a good entry point for a short or, in case I have some, I'd sell mine at profit. If I'm wrong at least you locked your profit.
Good luck
Note
what I see at 4h, remember that on EW I'm speculating but on the retracement I'm far more confidentNote
Assuming my EW hypotheys is correct I've moved my C wave's peak higher because I had forgotten to check that R there on the daily Here at 4h it's more clear as the chart has changed now:
Note
I'm currently shorting RUNE, I see this going down!Trade closed: stop reached
Yesterday I've started shorting inside the circle but my stop loss triggered as RUNE kept pumping against bearish DIVs and lowering volume. Right now it bounced off a resistance, a bigger one considering VLPR. Probably 3h15 ago was the right time to open a short at it pumped 84% without big retracement and now it's gonna go down. Sorry if I've signaled the wrong entry, I hope you all used stop losses. I'll keep looking for an entry today if I'll have the chance15min:
here the visual at daily timeframe.
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.