We have identified the short-term market structure of RUNE and it has provided us with gains that most would have a hard time to earn within a market structure like this!
Here's how we have outlined the plan.
In its current market structure, RUNE looks like its about to conduct a distribution phase which most would think highly probable of. However, we have also identified the different scenario. In this scenario, we have verified the new support that was established by RUNE on top of its previous major resistance at 2.42-3.4. Hence, we were able to find out that the tendency for this token to continue ranging between 2.8-4.6 with 2.8 being the 'in-between' of the previous major resistance and 4.6 as the resistance currently being tested. The best thing about knowing these factors is the fact that we can enter short and long trades confidently just below the current resistance and above the start of the previous resistance. That's how easy it was to identify its current short-term market structure. For its long-term market structure, we have identified 3 possible point of bounces at 2.331, 1.987 & 1.621. Right now, we're at one of these points. The 2.331 point is one where most would anticipate a sudden major bounce and major breakout. Although, we can't say for sure since it would be way too obvious if it will just happen right here. So, the better options would be 1.621 and 1.987 where many would await for another retest of RUNE and many demands will be met. Overall conditions would be met by then once RUNE reattempts the resistance at 4.6-4.8. In the event it would look like it was broken, most likely, it will be met by waves of sell orders at 5.4-7.0 where the last wave would only have 37.15% chance to be hit since a strong decline may happen from there leading to the points of bounces we've highlighted. Any other scenarios would likely occur but we can still react to those scenarios with these outlines we've done for various factors consisting RUNE's market structure.
Stay wise, trade cautiously.
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