📊 Key Insights:
Rejection and Retracement: RUNE faced rejection at the top of the range support and has started to retrace.
Potential Entry Opportunity: Retracement could offer an entry opportunity at the bottom of the support area.
Support Levels: Bottom of the range support identified at around $7.00.
Take Profit Targets: Potential take-profit levels at the top of the range support, followed by higher levels.
Risk Management: Tight stop loss placement below $6.85 to manage downside risk.
📈 Trade Plan:
Entry: Enter into a long spot trade if price tests the bottom of the range support near $7.00.
Take Profit: Target take-profit levels at the top of the range support around $8.00. Additional profit targets at $9.30 - $10.00 or $11.25 - $12.00.
Stop Loss: Place a tight stop loss just below $6.85 to mitigate potential losses.
📈🔍 Outlook: With a clear entry strategy and identified support levels, RUNE presents an opportunity for traders to capitalize on the retracement within the range. Risk management is crucial given the uncertainty surrounding BTC's price movement. 🚀📊 #RUNE #TradeOpportunity
Rejection and Retracement: RUNE faced rejection at the top of the range support and has started to retrace.
Potential Entry Opportunity: Retracement could offer an entry opportunity at the bottom of the support area.
Support Levels: Bottom of the range support identified at around $7.00.
Take Profit Targets: Potential take-profit levels at the top of the range support, followed by higher levels.
Risk Management: Tight stop loss placement below $6.85 to manage downside risk.
📈 Trade Plan:
Entry: Enter into a long spot trade if price tests the bottom of the range support near $7.00.
Take Profit: Target take-profit levels at the top of the range support around $8.00. Additional profit targets at $9.30 - $10.00 or $11.25 - $12.00.
Stop Loss: Place a tight stop loss just below $6.85 to mitigate potential losses.
📈🔍 Outlook: With a clear entry strategy and identified support levels, RUNE presents an opportunity for traders to capitalize on the retracement within the range. Risk management is crucial given the uncertainty surrounding BTC's price movement. 🚀📊 #RUNE #TradeOpportunity