XRP/USDT – 4H – SELL

The currency pair Ripple/Tether (XRP/USDT) jumps from the bearish trendline downwards

A continuation of the bearish trend downwards to the next support line at 2.892000000 is certain.

Caution: A possible reversal of the trend in the direction of the resistance line at 3.156000000 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart scenario. The currency pair is likely to fall.

Then a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which is often a bearish signal. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 2.892 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support line at 3.156000000 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘On Neck’ candle pattern is detected. The candles form ‘On Neck’. 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 success rate of a ‘On Neck’ heading down is 56% (Bull Market) & 58% (Bear Market).

3.156000000 – 3.351200000 – 3.334200000 – 2.991500000 – 3.115200000 – 2.892000000 — 32.887808685044 – 31.579014561653

Trading Signals: CRYPTO – XRP – XRP/USDT – USDT – On Neck – Rising Wedge Chart Pattern – –