XRP/USDT – 30M – SELL

The currency pair Ripple/Tether (XRP/USDT) goes from the bearish trendline down.

A continuation of the downtrend downwards to the next support at 3.055800000 is expected.

Caution: A possible counter-trend in the direction of the resistance line at 3.139700000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 3.06055 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 3.139700000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Three Outside Down’ candle chart pattern is detected. The candles show ‘Three Outside Down’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

3.139700000 – 3.112000000 – 3.058600000 – 3.055800000 – 2.981400000 – 3.002900000 — 45.406764493828 – 44.1118138498

Trading Signals: CRYPTO – XRP – XRP/USDT – USDT – Three Outside Down – – –