๐ข $XRP / $USDT | ๐ด SHORT | โญ 73.8%
๐ฏ Target: $0.9935. Is it still falling?
๐ฏ Trading levels:
๐ข Entry: $0.999
๐ Stop Loss: $1.0023
๐ TP1: $0.9935
๐ TP2: $0.9924
๐ TP3: $0.9902
๐ Analysis:
The market structure in $XRP shows a complete bearish alignment across all timeframes (MTF), confirmed by the bearish MACD crossover (an indicator that measures price momentum) and a volume ratio 3.2x above the average, which indicates strong absorption of sell orders. With an ADX of 19.82 (moderate trend strength) and the price trading below the POC of $1.0031 (point of highest traded volume), we maintain a sell bias after the confirmation of the Triple Top pattern.
โ๏ธ Risk/Reward: 1:1.67
โฑ๏ธ Timeframe: 1H
๐ Technical confidence: 4/5
The stop loss is placed above the EMA20 to invalidate the thesis if there is a corrective rebound. The trade strictly depends on the price not managing to recover the $1.0023 level, while monitoring the breakdown of the immediate support at $0.9915 to confirm the bearish move.
Do you think the current volume is enough to break through the $0.9915 support, or are you expecting a larger pullback?
๐ก This analysis is for educational purposes and is not financial advice. Do your own research and decide calmly.
#crypto #XRP #trading #Futures #Bearish
๐ฏ Target: $0.9935. Is it still falling?
๐ฏ Trading levels:
๐ข Entry: $0.999
๐ Stop Loss: $1.0023
๐ TP1: $0.9935
๐ TP2: $0.9924
๐ TP3: $0.9902
๐ Analysis:
The market structure in $XRP shows a complete bearish alignment across all timeframes (MTF), confirmed by the bearish MACD crossover (an indicator that measures price momentum) and a volume ratio 3.2x above the average, which indicates strong absorption of sell orders. With an ADX of 19.82 (moderate trend strength) and the price trading below the POC of $1.0031 (point of highest traded volume), we maintain a sell bias after the confirmation of the Triple Top pattern.
โ๏ธ Risk/Reward: 1:1.67
โฑ๏ธ Timeframe: 1H
๐ Technical confidence: 4/5
The stop loss is placed above the EMA20 to invalidate the thesis if there is a corrective rebound. The trade strictly depends on the price not managing to recover the $1.0023 level, while monitoring the breakdown of the immediate support at $0.9915 to confirm the bearish move.
Do you think the current volume is enough to break through the $0.9915 support, or are you expecting a larger pullback?
๐ก This analysis is for educational purposes and is not financial advice. Do your own research and decide calmly.
#crypto #XRP #trading #Futures #Bearish