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$RUNE: simple head and shoulder pattern: buy zone for long

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is an established DeFi protocol that works and is solid, based on its own blockchain, Thorchain. No token unlocks, all tokens are vested, making it relatively safe from rug pulls. However, like many other altcoins, it has been overheated and is undergoing a drastic cooldown.

This pattern is a classic one, easy to identify, and therefore the target is below the neckline at $2 or less. It looks very low, but if you look at the Weekly MACD, you can see that it is not oversold and needs more downside to reset before a reversal.

Even if it bounces because has another pump, the chart pattern suggests not buying above this zone as it would go against the chart theory.

Do what you want, but I have put my buy order in the green zone, which guarantees me a significant profit if it gets filled. If not, I will buy another coin.

Always do your own research (DYOR). This is not financial advice; I am just articulating what the chart indicates. It is up to you to make any informed decision based on that.

註釋

has pumped with all the market after the Trump white swan event. However it is still in the danger zone. I would not get too excited by this pump. It is good that Whales are showing some strenght, and also good that do not dump to 48k or lower. However, charts are not lying, has to enter the refill box to be at a good price for a long. So I am waiting.

註釋

is close to my buy zone. I have updated the chart according to the new market development.
MT.Gox just sent their last batch of $3.5 Billions to Bitstamp, so I expect -5% to -10% which will get in the buy zone.
I expect the market to recover quickly after, so I think that it will be a good long entry. Here is the updated buy zone for your information.