Recently, the price of RUNEUSDT has experienced a breakout from its ascending channel , which is a technical analysis pattern that signals a bullish trend . This breakout occurred after the price was rejected at daily resistance, indicating that buyers were able to overcome selling pressure and push the price higher.
However, a new ascending minor channel is now forming, suggesting that the upward momentum may be losing steam. If the price of RUNEUSDT were to lose support, it would indicate a potential shift in market sentiment from bullish to bearish . In this scenario, traders may consider applying Plancton's Rules, a trading strategy that involves taking a short position when a market experiences a significant price drop.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
However, a new ascending minor channel is now forming, suggesting that the upward momentum may be losing steam. If the price of RUNEUSDT were to lose support, it would indicate a potential shift in market sentiment from bullish to bearish . In this scenario, traders may consider applying Plancton's Rules, a trading strategy that involves taking a short position when a market experiences a significant price drop.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
Note
7% Note
14% 
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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.