XRP/USD Timeframe Week 1. Huge triangle. Reversal zone

Updated

Timeframe Week 1. Huge triangle. Reversal zone.
The world is coming to big changes after Russia.

This reversal zone on a smaller timeframe for active work.
XRP/USD Timeframe 1 day. Reversal zone.https://www.tradingview.com/chart/XRPUSDT/L2LNfpL8-XRP-USD-Timeframe-1-day-Reversal-zone/

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Timeframe 3 days. A huge triangle reversal zone.

Study what ISO 20022 and Basel III are and the approximate timeline for implementation. Think about what will happen to cryptocurrencies, including stabelcoins (massive FUD for the situation) that do not meet these requirements and vice versa - meet (very little). Develop (think through) in advance your strategy of work - reaction while there is time, diversify strategic risks first of all.

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The trading situation is now against the backdrop of a local BTC correction

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Local work. Reversal zone. After reaching the dynamic support of the triangle in the secondary downtrend, a reversal and a breakdown of its resistance with an impulse of 9.91% in the indicated time zone to the dynamic resistance of the triangle (level zone 0.7767). The price, despite this impulse-purchase, is still within the aisles of the canvas of the triangle. Pivot level zones on the chart.

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Could not break through the resistance of this huge triangle. The triangle was broken down from the reversal zone. -40% off 0.6037 (yellow) safe short entry, off 0.693 (risk, red), around -45%.

If you work short, be sure to move the stop loss behind the price decrease. A hit stop can serve as a buy signal, or at least a watch signal.

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trading situation 24 days after May 11th. Timeframe 3 days. A triangular local formation is formed in the pinch zone. Which, in cases of a downward breakthrough, will act as a canvas of a descending pennant.

Work long, only after a breakout and consolidation of this downtrend (purple line). The reversal zones on which the further development of the trend depends and their local % range are shown on the chart.

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Timeframe 1 day. Breakout of the clamping triangle down under the general market trend (Bitcoin dump). At the moment -15% from the breakthrough.

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Local situation now. Important turning zone. If the "window" for bitcoin lasts, then they will probably have time to pump to the level of 0.6

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This is how this zone looks on a large timeframe of 1 week.

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Local clamping in the horizontal channel 20% Zones of reversal levels and potential in case of breakdown of support/resistance levels. FUD Spreads: "Scoundrel Jed Mackleb Has Already Sold All His XRP"

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An interesting squeeze occurred on the Binance exchange on 25 07 2022 for the unpopular (relatively low liquidity) XRP/USDC trading pair among traders. Exactly +160%.

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XRP/USD Timeframe 1 day. Reversal zone.

by SpartaBTC

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