XRP/USDT – 30M – SELLNext a ‘Double bottom retreat down’ chart pattern is detected. The chart picture forms ‘Double bottom retreat down’. which is a negative pattern signal. The pair is likely to go down.
The currency pair Ripple/Tether (XRP/USDT) jumps from the ascending trendline downwards
A bearish movement downwards to the next support level at 3.403800000 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 3.557900000 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Outside Down’ candle pattern is detected. The chart forms ‘Three Outside Down’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 3.660700000 |
| Next High | 3.557900000 |
| Current Price | 3.544100000 |
| Next Low | 3.403800000 |
| 2nd Low | 3.380000000 |
| 3rd Low | 3.354700000 |
3.557900000 – 3.535200000 – 3.451300000 – 3.403800000 – 3.380000000 – 3.354700000
Trading Signals: FOREX – XRP – XRP/USDT – USDT – Three Outside Down – Double bottom retreat down