RLinda ! RUNEUSDT-> Wedge resistance breakdown. What next?

4 Okt 2022

RUNEUSDT on the lower timeframe we see the formation of a bearish downward movement, the price updating global lows and stopping the price in the zone of 1.450

On the global chart, we can see the price testing a strong support level, a decrease in volatility - the transition of the price into sideways movement, which indicates a set of energy in the "consolidation" format. The price makes a rebound from the support and breaks through the local resistance

The price forms a bullish set-up in a bear market, which is capable of reversing the market. The price has been forming the resistance since the end of August and today we see the breakdown and the price breaking beyond the level of 1,608. I assume that the price will move up after the breakdown of the wedge resistance. The short-term target is the resistance at 1.77, the medium-term target is the liquidity area at 1.82

Regards R.Linda!