XRPUSD ********* ⏳30 Mins chart 🎲 Possible entry analysis ⛳️ Possible bull/bear target 📚Educational
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1️⃣ 0.80000 Acted as strong resistance-Key psychological level 2️⃣ Rising wedge pattern 3️⃣ positive risk sentiment, Vaccine news 4️⃣ 0.60000 Dynamic support and resistance 5️⃣ Strong demand for crypto's (Bircoin,Ripple,Tether,Etherium etc.,) 6️⃣ 50% Fibonacci around 0.62500 7️⃣ Technical support - short term bearish 8️⃣ 0.50000 will acted as key reversal-Bullish 9️⃣ Previous week low-Immediate resistance-Alternative bullish entry 🔟 Break and retest of the Rising wedge structure happened #️⃣ Overall trend- bullish
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📉 Technical bias-H4-Bearish
Price is below 50,100,200 Exponential moving average 50,200 Exponential moving average will act as support-Bear Ichimoku cloud -cloud is still red-Middle line supports bearish trend Bollinger band- Price reached around the lower band-Short term bullish correction towards middle band Relative strength index - Felled below 50 - Bearish trend MACD -Turned red and felled below the signal line, Oscillators pointing downward Stochastic - Reached around 20- oversold condition will give a short term pull back expected
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Key reversal area's
0.80000 psychological level 0.61675 Point of control area Volume analysis 0.79000 Nov month high 0.62480 50% Fibonacci retracement level 0.55450 Minor resistance level 0.60530 Possible entry- Bear 0.50000 Trendline resistance/Alternative bullish entry
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Bearish entry #ripple #xrpusd
Entry price - 0.62540
Take profit 01 - 0.55450 Take profit 02 - 0.50200
🚫 Stop lose 0.63900
⬇️ 17.12% Drop expected ⤴️ Account growth 5.7: 17.1 ✅ Risk reward ratio 1 : 3
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