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XRPUSDT Dynamic S/R| Bullish OB| Price Action| Volume Profile

Long
BINANCE:XRPUSDT   XRP / TetherUS
Points to consider

Observing XRPUSDT’s chart above, Price Action initially respected its Bullish Order Block that was in technical confluence with the Daily S/R Support Level . Holding this level was critical to maintain a Bullish Bias, evidently being the case as a strong Bullish Expansion followed suit. This Bullish Volatility Expansion had increasing volume allowing it to break key resistances.

The Dynamic S/R was compressing Price Action into its Apex until it was successfully breached with a confirmed back test. This was the initial sing of an impulse coming to fruition as the overlying Weekly S/R was breached with conviction.

As of current, the Volume Profile has had a strong influx after a succession of Declining Volume . When the Volume Profile is on a Decline as Price Action reaches its Apex, it increases the probability of a breakout being imminent. Follow through is critical to sustain momentum, especially when a back test of the Daily S/R comes to fruition – failure will be indicative of weakness.

Comments

everything looks good. valid technical setup.
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