$RUNE to break upper trendline for Double Extension 5th Wave
RUNE price action relates to two impulse 5th wave extension in Elliot Wave. 1. A Typical 5th Extension where the 5th wave stays under the trendline then make it corrective waves, or
2. A Double Extension impulse where it breaks the upper trendline to a max of 261.8% Fib.
Somehow it did however showed some characteristic of Double extension during wave 3, finishing above 1.618% , with wave 5 just under 161.8% of wave 3.
Breaking the upper trendline will confirm its structure.
Moreover
RUNE did retraced a significant amount around 31% after wave 3, and ended in a c-wave failure.Some caution though, as extended 5th wave will often break the upper trendline only to quickly retrace 61.8% - 95% of the entire 5th wave.
Interesting to see how this will play out as most of the its run is contributed by a great product market fit, by means of cross-chain Decentralized Exchange using Streaming swaps of native BTC, ETH.
Nota
Still no impulsive correction for RUNE, still on trend.Nota
Posted a day ago, hoping for a wave 2x.com/buckh28d/status/1727504925125661052?s=20
Nota
Most likely the wave 2 is currently happening. If major impulse happened to break upper resistance, will confirm double extended wave 5 for RUNENota
Possible w3 of W5 in the making or w2 of W5.Nota
Looks like another extended impulse here, w2 of W5
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.