The price of Ripple (XRP) broke out of a Rising Wedge Pattern on the daily time-frame as well as on the lower time-frames.
The Rising Wedge is a reversal pattern, which results in a significant drop. Especially when the whole market acts bearish.
Since the price of Bitcoin (BTC) is also struggeling (see my latest Bitcoin idea, linked below), i'm looking for
more confirmation points.
The MACD is about the cross bearish and reverse.
The ADX line is currently at 26.00. This indicator gives us an idea of the strength of a trend.
We will watch the price an open the position (after confirmation) as follows
Position: Short
Open: Red Box (Sell) 0.288 - 0.293
Close: Green Boxes
I will update this chart accordingly!
THANKS! For all the positive feedback im receiving lately.
Leave a thumbs up if you like this idea and Follow me for more updates!
Feel free to support me on Patreon.
Disclaimer:
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
The Rising Wedge is a reversal pattern, which results in a significant drop. Especially when the whole market acts bearish.
Since the price of Bitcoin (BTC) is also struggeling (see my latest Bitcoin idea, linked below), i'm looking for
more confirmation points.
The MACD is about the cross bearish and reverse.
The ADX line is currently at 26.00. This indicator gives us an idea of the strength of a trend.
We will watch the price an open the position (after confirmation) as follows
Position: Short
Open: Red Box (Sell) 0.288 - 0.293
Close: Green Boxes
I will update this chart accordingly!
THANKS! For all the positive feedback im receiving lately.
Leave a thumbs up if you like this idea and Follow me for more updates!
Feel free to support me on Patreon.
Disclaimer:
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
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