XRP/USD
Bullish Case
- Reclaim the triangle at $0.5
- Hourly RSI, MACD and Histogram looks to want to reverse
- Symmetrical Triangle generally are a continuation patter, generally 80% chance breaking upside, but since it has broken down, this is not likely
Bearish Case
- Broke out of Symmetrical triangle and KOBO (kiss off bugger off) touch and retest to be rejected.
- Below 50MA on the hourly
- Break down can bring us to the 0.618 fib, which is $0.42 area
I am more bearish than bullish , thoughts?
Bullish Case
- Reclaim the triangle at $0.5
- Hourly RSI, MACD and Histogram looks to want to reverse
- Symmetrical Triangle generally are a continuation patter, generally 80% chance breaking upside, but since it has broken down, this is not likely
Bearish Case
- Broke out of Symmetrical triangle and KOBO (kiss off bugger off) touch and retest to be rejected.
- Below 50MA on the hourly
- Break down can bring us to the 0.618 fib, which is $0.42 area
I am more bearish than bullish , thoughts?
Note
getting rejected at resistance, shorts in playOrder cancelled
Fake out, structure is all over the placeTrade active
Big fake out, now continuing to targetNote
XRP/USDBullish Case
- Bounce from this M or double top bottom.
- RSI , MACD and Histogram looks to want to reverse as it is close to oversold on the LTFs (5min, 15min, 30min, 1hour)
- Possible retest at 0.382 fib area which is approx. $0.4754
Bearish Case
- Break down past the bottom of the M or double top pattern and we go to next support at approx $0.45 which is the 0.5fib retrace.
- RSI , MACD and Histogram looks to want to continue on down on the HTFs (8hr, 12hr, 1day)
I am more bearish than bullish still, thoughts?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.