XRPPanjang
XRP Again!
A nice bull flag is observable on the hourly chart. However, there are signs of bearish divergence on both the RSI and MACD, accompanied by decreasing volume. This suggests that the lower trendlines might be tested first, potentially reaching the structural support around 1.7.
Following this, we could anticipate a bullish turnaround. This could form the basis for a breakout from the flag pattern, aiming for a measured move to 3.5, which aligns perfectly with the 1.618 Fibonacci level. For this breakout to be valid, it should occur with significant volume and be followed by a retest of the breakout level to confirm the target.
If these conditions aren't met, there's a risk of a fake out, leading to a drop back into previous structure, necessitating a re-evaluation of the position.
Disclaimer: NFA - These are just ideas. 💡
Following this, we could anticipate a bullish turnaround. This could form the basis for a breakout from the flag pattern, aiming for a measured move to 3.5, which aligns perfectly with the 1.618 Fibonacci level. For this breakout to be valid, it should occur with significant volume and be followed by a retest of the breakout level to confirm the target.
If these conditions aren't met, there's a risk of a fake out, leading to a drop back into previous structure, necessitating a re-evaluation of the position.
Disclaimer: NFA - These are just ideas. 💡
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.