XRPUSDT wants the breakout from the key level?
The price had a clear breakout from the descending channel and retest it as new support on 0.36$ area on 0.618 Fibonacci level.
XRP got the liquidity from the false breakout from the 0.33$ area, where the market created the local demand zone
At the moment the price is going to create a pennant just below the daily resistance and key level
How to approach it?
the price needs to create a new breakout from 0.41$ area, it's a clear and strong resistance for the price. For that reason, we could see an accumulation phase below this structure.
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Follow the Shrimp 🦐
Keep in mind.
XRP got the liquidity from the false breakout from the 0.33$ area, where the market created the local demand zone
At the moment the price is going to create a pennant just below the daily resistance and key level
How to approach it?
the price needs to create a new breakout from 0.41$ area, it's a clear and strong resistance for the price. For that reason, we could see an accumulation phase below this structure.
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
- ⚫️ Black structure -> <= 1h structure.
Comment:
a clear false breakout inside a pennant. now the price is testing the upper trendline as support. ready for the breakout
Comment:
the price is testing the daily resistance
Comment:
8% as expected
Comment:
so clear
Comment:
a perfect breakout from the pennant!
A pennant is a chart pattern that is formed when the price of a financial instrument moves in a tight range after a significant price move. It is characterized by two converging trendlines that form a "flag" or "pennant" shape. The pattern is considered a continuation pattern, which means that it is expected to signal a continuation of the existing trend after a brief period of consolidation.
A pennant is a chart pattern that is formed when the price of a financial instrument moves in a tight range after a significant price move. It is characterized by two converging trendlines that form a "flag" or "pennant" shape. The pattern is considered a continuation pattern, which means that it is expected to signal a continuation of the existing trend after a brief period of consolidation.
Comment:
Waiting for the breakout from the bull flag
