XRP/USDT – 4H – SELL

The combination Ripple/Tether (XRP/USDT) goes from the ascending trendline downwards

The bearish trend downwards to the next support level at 2.196000000 is considered certain.

Caution: A possible trend reversal in the direction of resistance at 2.975000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair could go down.

Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 2.7232588 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support line at 2.975000000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candle pattern is discovered. The candles show ‘Three Outside Down’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

2.975000000 – 2.327100000 – 2.229600000 – 2.196000000 – 2.078200000 – 1.908300000

Trading Signals: FOREX – XRP – XRP/USDT – USDT – Three Outside Down – Rising Wedge Chart Pattern