XRP/USDT – 1H – SELLNext a ‘Double bottom retreat down’ chart pattern is detected. The chart picture shows ‘Double bottom retreat down’. which is a bearish signal. The pair is likely to go down.
The currency pair Ripple/Tether (XRP/USDT) goes from the bullish trendline down.
A bearish movement down to the next support at 3.163000000 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 3.238700000 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘RSI fall below 70’ indicator layout is found. The indicator shows ‘RSI fall below 70’. which could be a negative chart scenario. The currency pair is likely to fall.
Next a ‘Last Engulfing Top’ candlestick pattern is found. The candles form ‘Last Engulfing Top’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3.578700000 |
| 2nd High | 3.265100000 |
| Next High | 3.238700000 |
| Current Price | 3.227200000 |
| Next Low | 3.163000000 |
| 2nd Low | 3.156400000 |
| 3rd Low | 2.998100000 |
3.238700000 – 3.218100000 – 3.265100000 – 3.163000000 – 3.156400000 – 2.998100000 — 63.916959992041 – 59.105222087934
Trading Signals: CRYPTO – XRP – XRP/USDT – USDT – Last Engulfing Top – Double bottom retreat down –