Hello everyone,
I hope you are all having a peaceful day.
Today, I am writing to share my bearish (short) outlook on XRP as of October 5th.
The rationale is as follows.
The 1.13 Alternate Bat (ALT BAT) pattern is a harmonic variation that places the PRZ (Potential Reversal Zone) at the 1.13XA level—an extension beyond the conventional Bat pattern. This zone represents an area where price has likely become overextended, increasing the probability of a corrective reversal. It is generally recognized as a region where strong reversal signals tend to emerge.
In addition, WAVE5 = WAVE1 × 1.272 indicates an “extended fifth wave” in Elliott Wave Theory, suggesting that the final wave often terminates around the 1.272 extension level. This structure frequently appears near the end of an overheated market phase, just before the trend shifts direction.
When these two signals coincide or align closely in price, the area can be interpreted as a strong reversal confluence, where the harmonic PRZ and wave extension target overlap.
Accordingly, the average target is set at 2.90USDT.
As price action unfolds, I will provide updates on position management within this idea.
Thank you for reading.
I hope you are all having a peaceful day.
Today, I am writing to share my bearish (short) outlook on XRP as of October 5th.
The rationale is as follows.
The 1.13 Alternate Bat (ALT BAT) pattern is a harmonic variation that places the PRZ (Potential Reversal Zone) at the 1.13XA level—an extension beyond the conventional Bat pattern. This zone represents an area where price has likely become overextended, increasing the probability of a corrective reversal. It is generally recognized as a region where strong reversal signals tend to emerge.
In addition, WAVE5 = WAVE1 × 1.272 indicates an “extended fifth wave” in Elliott Wave Theory, suggesting that the final wave often terminates around the 1.272 extension level. This structure frequently appears near the end of an overheated market phase, just before the trend shifts direction.
When these two signals coincide or align closely in price, the area can be interpreted as a strong reversal confluence, where the harmonic PRZ and wave extension target overlap.
Accordingly, the average target is set at 2.90USDT.
As price action unfolds, I will provide updates on position management within this idea.
Thank you for reading.
Trade active
all tp hit!!
🔴유튜브
🔗youtube.com/@seovereign
🌐서버린 공식 텔레그램 토론방
🔗t.me/+Sd_TSg2IX3k4Njg1
📌FIFTH(전자책) 무료 배포-분석법 공개
🔗tinyurl.com/FIFTH-SAMPLE
⚠️경고: 무근의 명예훼손·욕설·비방은 형사·민사 대응합니다. 계정추적·고소·손배 청구를 진행할 수 있으며, 모든 관련 자료(스크린샷·로그)를 수집하고 있습니다.
🔗youtube.com/@seovereign
🌐서버린 공식 텔레그램 토론방
🔗t.me/+Sd_TSg2IX3k4Njg1
📌FIFTH(전자책) 무료 배포-분석법 공개
🔗tinyurl.com/FIFTH-SAMPLE
⚠️경고: 무근의 명예훼손·욕설·비방은 형사·민사 대응합니다. 계정추적·고소·손배 청구를 진행할 수 있으며, 모든 관련 자료(스크린샷·로그)를 수집하고 있습니다.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔴유튜브
🔗youtube.com/@seovereign
🌐서버린 공식 텔레그램 토론방
🔗t.me/+Sd_TSg2IX3k4Njg1
📌FIFTH(전자책) 무료 배포-분석법 공개
🔗tinyurl.com/FIFTH-SAMPLE
⚠️경고: 무근의 명예훼손·욕설·비방은 형사·민사 대응합니다. 계정추적·고소·손배 청구를 진행할 수 있으며, 모든 관련 자료(스크린샷·로그)를 수집하고 있습니다.
🔗youtube.com/@seovereign
🌐서버린 공식 텔레그램 토론방
🔗t.me/+Sd_TSg2IX3k4Njg1
📌FIFTH(전자책) 무료 배포-분석법 공개
🔗tinyurl.com/FIFTH-SAMPLE
⚠️경고: 무근의 명예훼손·욕설·비방은 형사·민사 대응합니다. 계정추적·고소·손배 청구를 진행할 수 있으며, 모든 관련 자료(스크린샷·로그)를 수집하고 있습니다.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.