Based on your analysis of the $RUNE /USDT pair, here’s the potential next step for traders:
Prediction & Strategy:
1. Immediate Outlook: The $RUNE /USDT pair is holding a significant support level, and the bearish divergence in the RSI of USDT dominance suggests that the broader crypto market may see an upward move. This is a strong signal for a potential bounce-back in $RUNE.
2. Entry Strategy:
Buy at 3.36 USDT: This price point aligns with the support zone, and there's a high probability of a bounce-back from here, as you mentioned.
Take Profit (TP):
1st TP at 5.00 USDT (around 48% potential gain).
2nd TP at 5.30 USDT (a higher resistance level, suggesting further upside potential).
3. Key Considerations:
Short Squeeze: With significant liquidity around the 5.3 level, expect the potential for a short squeeze in the short-term timeframe. This could drive the price higher.
USDT Dominance & BTC Bullishness: As you mentioned, a bearish divergence in USDT dominance typically signals a bullish outlook for BTC and the wider market, which can help lift $RUNE as well.
Overall Trade Sentiment: The technical setup shows a promising bullish scenario for $RUNE, especially with the support level holding and USDT dominance suggesting a market-wide correction. Traders should position for a potential bounce but keep an eye on the broader crypto market conditions.
Next Step:
Buy Entry at 3.36 USDT, with the expectation of a bounce and a squeeze in the shorter timeframe.
Watch for Resistance at 5.00 and 5.30 USDT, adjusting TP as price action develops.
Join your live stream for further updates, as live trading insights could provide timely adjustments for the position.
Final Thought: The support is solid, and the market context is favorable. Ensure you manage risks with appropriate stop losses and stay vigilant
for signs of further bullish momentum.
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