SpartaBTC

XRP/BTC Falling Wedge. Timeframe 1 week.

BINANCE:XRPBTC   XRP / Bitcoin
The timeframe on the price chart is 1 week. On a large scale, the price has formed a falling wedge . The price is at the resistance of this formation (the resistance of the secondary downtrend). A breakout of this resistance would mean the final reversal of the trend and the fall of the “non-ecological” opposite. It is also necessary to understand that the price before important events can move along the breakout zone of this trend.

The chart shows important local support / resistance levels and trend levels, on which the further development of the price movement will depend. Today is 04.21.2021.

Updates to previous works for this trading pair.
The entry point was set at the minimum price values ​​of the trend immediately before its reversal. Term 1 day.


The beginning of the emergence of this trend before the impulse


Result + 286% to the resistance zone of the downtrend.

Comment: +35%
Comment: After the breakout of the resistance of the large wedge (downtrend main trend), a 40% channel was formed above the resistance zone

At the moment, the price is in its lower part at the intersection of the main downtrend and the support of the local horizontal channel. The potential of the local channel is about 40%. A breakout of the level 31 zone (local channel resistance) and behind it the level zone (false breakout) 381 will give the potential for working out the rising flag formation with a flagpole of exactly 200%. This is on condition that there will be no "sabotage". If there are FUD tales, then trading in this channel zone, or along the line of the main trend (contact).
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Comments

This is the best idea
+3 Reply
SpartaBTC Mars-james
@Mars-james, thank you
Reply
hello macedonian! noticed this wedge for a long time, and still often moves in 5 waves
+3 Reply
@Mnemor, Yes, there is such a possibility
Reply
Amazing work mate
+2 Reply
SpartaBTC KlejdiCuni
Reply
have similar idea about it ..thanks for sharing
+1 Reply
SpartaBTC Babenski
@Babenski, +++
Reply
very interesting and thx for sharing :)
+1 Reply
SpartaBTC jojofang0901
Reply
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