The dip into the 4s was short lived for RUNE as price got a nice moon candle today.
It wasn't all sunshine and rainbows on the move, but we got it nonetheless and my RUNE trade (avg. price of 5.18) is now into the green.
As many of you know my favorite entry pattern is what I call a u-turn reversal. After four down days, yesterday's candle traded below the low of that last red candle and closed above the low (and the close for that matter).
That is a buy signal, which ironically I did buy a little more but not because I noticed the signal (oops).
And in just one day price has pushed to the first target of 5.80 area, which is the last sideways consolidation.
So the only real negative of this push higher is that the candle has low volume. Average I supposed relative to the past week, but low compared to the rest of the year.
So as opposed to there being a ton of buyers, it looks more like there just weren't many sellers so the buyers had an easy path higher.
The current level will be key to see if there is any follow through to make a run at the all time highs, which would be the next target.
Obviously with the looming mainnet launch the anticipation is high for a run at the highs, but there are no guarantees.
Either way, its nice to see a solid green number on the PnL after a few days are ugly red!
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