RUNE is a falling knife, > +50 % upside possible by accumulating

Contrarian trade. Seeing opportunity for careful accumulation on ongoing weakness, which Bitcoin may dilute or further amplificate.
We have a falling wedge and a high red TD count hinting a bounce within 2/3 days.

Unless Bitcoin slumps.
If so i'll further accumulate by lots down to the 3$ area and evalute in 2/3 months.

Designated targets are 6,7$ and 7,7$.

Note

Testing resistance, volume up.

If Bitcoin avoids a slump Rune may breakout the inner wedge soon.

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Close to 3$. 11th red TD candle, RSI nearing oversold.

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Volatility will pick up soon, watch out dor wedge breakout and look for further opportunity.

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-85% from ATH in less than 2 months is something ...

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3,01$ reached, done with accumulation.
We'll see in a few months.

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Trying to confirm breakout of inner wedge.

It would be important to confirm that morning star on volume on today close, because the hard part (outer wedge) has yet to come.

Let's see, eyes on Bitcoin.

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By the way, if you accumulated down to the 3$ mark you should be in profit already.
So don't forget to place a SL.

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Morning star confirmed on volume.

Approaching key resistance, now a lot depends on Bitcoin.

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If bitcoin holds this trade may reach it target way sooner than a couple months.
If it slumps again we'll need patience (And a SL).

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Still en route, despite the sheer incompetence shown by developers. Baffling.

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Already in the +50% gain range.

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6.7$ hit.
First target matched.

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If you accumulated down to the 3$ mark you are already sitting on a +100% gain.
It's up to you what to do with that and where to close this successful trade .

I seldom give exit signal as preference and objective are varying ( e g. trading vs accumulating ).

There's only a golden rule imho: don't make a gain a loss.

Trade closed: target reached

Even second target achieved (7,7$) was basically achieved in less than 3 weeks.
Profit in excess of +100% for those who accumulated down to 3$.

RUNE has margin for further upside in the medium term, but it's enough for the point of this post.
DYOD.

Closing.

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