THORChain (Binance: RUNEUSD) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, RUNE began a red wave one advance in September 2019. The red wave one finished in February this year, and the red wave two correction ended in March. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on July 25, and the red wave four (blue sub-waves a-b-c) correction ended on August 2. If this wave count is correct, RUNE should be heading next towards the July 25 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
THORChain describes itself as a decentralized liquidity network that allows users to swap assets instantly at manipulation-resistant market prices. You can read their latest update here.
(Sources: https://thorchain.org/)
How Will THORChain Trade?
THORChain (Binance: RUNEUSD) four-hour chart by Tradingview.
(Chart courtesy of Tradingview.com (log scale))
Prizes
I will be giving upvotes to the correct answers with minimum reputation of 25.
Rules
This poll will expire in one week. Only one vote per person.
Which one will happen first?
Please select one of the three choices and comment below.
RUNE will takeout the July 29 peak
RUNE will drop below the July 27 low
RUNE will stay in a trading range between the July 27 low and the July 29 peak until September 8