SpartaBTC

XRP Descending triangle. Mirror level like on btc $ 6000

POLONIEX:XRPUSDT   XRP / Tether USD
In technical analysis , there are four types of triangles:
1) ascending triangle .
2) descending triangle .
3) symmetrical triangle (isosceles).
4) divergent triangle.
The first three triangles are shown to us on the 1 week timeframe Ripple coin (XRP). The first two worked on the classic technical analysis . We are waiting for how the third will work. But most likely it will work as it should work, there is a big doubt that large traders will get into the deal now. It is very rare that figures of such scale and on an instrument with such a capitalization work in opposition. Another thing is on coins with small capitalization, if you completely control the price and draw what you want to see, when everyone saw and believed, nothing stands against the crowd and books of technical analysis . For example, in one of my TNT trading ideas, I specifically outlined a similar situation. When the descending triangle (marked in yellow) has broken the pulse by + 200%
On large-cap instruments, this is difficult or most likely not possible. As large traders, such a transaction will not be included at all or will be entered cautiously. The crowd does not count, the crowd does not move. Crowd just twist back and forth. The crowd, like a comet's tail, only follows the movement of the control core. The goal is the widest part of the triangle. On the graph, I displayed it, it is at least -75%. Sounds fantastic at first sight. But this shows the schedule and history. But still, they will suddenly be able to deceive and we see not a sale of the position by 5000% -20000% with retention at the mirror level (similarly as BTC was at $ 6000) from two years ago since the isosceles triangle was broken, but price retention, drawing a specially bearish figure and working it out against the expectations of all. The goal is to grow (very low probability) as in short the height of the widest part of the triangle is about + 300%.
Also, maybe someone was surprised that I wrote about the position reset by 5000% -20000% from the mirror level. The way it is. This is clearly seen in the pair to Bitcoin on a 1 month timeframe. Cool for the month to increase Bitcoin 75 times))) And make impulses on a downward trend further for an even greater increase in complex%. But the truth is each time for a smaller amount of impulse due to a large sales load. This is what this idea showed: Why are such figures drawn? Very simply, a large one with a lot of money keeps up the level, buys all the sales on it. From the level of making impulses-ransom. Then supporting slightly the price is gradually sold in small lots. But close to my level that I defend, again I make an impulse upwards to raise the price. But each time it is more difficult to do, as sellers and "deceived" more and more. Therefore, each time the impulses are lower and the price over time is clamped into a corner. Then you need to think what to do or punch up or down. You need to understand what the mood in the market and go against all. After all, to earn it is necessary that someone lost. The more someone loses, the more you earn. The level (support) for the one who controls the price and therefore over time is critical for all large traders. As soon as the price is fixed below it, everyone starts to leave the position on the principle of who is first, then the slippers. Panic begins to villages. In such a situation, it all depends on which% of the large coins it is necessary to sell off and how much money it has and in general it is reasonable to hold it. An analogy like $ 6000 was broken in Bitcoin in November. The figure and level were similar.
Also note that I have several trading ideas in Long on XRP, but there are movements and therefore trading was inside the formation of this downward triangle.

I would advise to trade with the trend and not flattery in uncertainty. If we do not trade inside the figure, we wait for the triangle to be pierced in one or the other direction (the blue circle in the narrowest part of the triangle). Where we have struck, we trade there, it is better to buy a bit more expensively but with certainty than to buy a second bottom.

Rules for all Triangle shapes.

1) Breaking the price is likely to occur in the direction of the previous trend.
2) An odd number of oscillations (waves) usually occur inside a triangle. It is desirable that their number be at least five (three down and two up or vice versa). The more waves, the stronger the signal.
3) It is believed that if the last wave of the triangle did not touch the border and turned around earlier, this will lead to a sharp price movement when one of the sides is broken.
4) It is not recommended to trade inside a triangle shape.
5) During the price movement inside the triangle, the volume indicators should decrease, and during the breakthrough of one of the parties, increase.
6) If after the penetration of one of the sides of the triangle, the price “tries” to come back, then this should occur with decreasing volume indices (otherwise it serves as a “not good” signal).
7) To confirm the opening position, when the triangle is broken, it is desirable to wait for the closing price of the Japanese candle to be outside the triangle and then open the position.
8) It is desirable that the price breakthrough occurs at a distance of 1/5 to 3/4 of the length of the triangle horizontally. If this happens later, the triangle loses its breakthrough impulse and further price movement may be uncertain.
9) If the angle of inclination of the triangle is more upward, then most likely the price will go up and vice versa, if the angle of inclination of the triangle is more downward, then most likely the price will also go down.
10) After breaking through one of the sides of the triangle, very often this side becomes the support / resistance level (depending on where the price has broken up or down).
11) After breaking through, the price will pass in the direction of breaking through at a distance equal, at a minimum, to the height of the triangle in its largest part.

Descending triangle - The definition of the shape of the following features:
1) the support line of the triangle has a horizontal direction (or almost horizontal).
2) the resistance line of the triangle has a slope and moves down, each wave maximum inside the triangle is lower each time.

The descending triangle has a stronger working out on the bear (downward) market compared to the uptrend market, due to the fact that the angle of inclination of the support line is directed downwards, that is, the sellers are more persistent. And the price, more often, breaks through the horizontal support line.
A descending triangle is usually found on a downtrend and is a figure for the continuation of a trend, however, sometimes it can serve as a figure for an uptrend. Therefore, sometimes, even in a bull market, it is considered a bearish signal.

The figure is an isosceles (symmetric) triangle is a very common figure that does not have a pronounced direction, because it is characterized by an equilibrium between supply and demand . The shape is formed from two converging lines (resistance line and support line). The intersection of these lines is called the top of the triangle. The amplitude of oscillations inside the figure decreases, as the indicators of trade volume gradually decrease. The lines of support and resistance have equal angles of inclination. This triangle shape resembles an isosceles triangle when the bisector divides it exactly in half (pink line).

Ascending triangle-growth figure. This means that no matter what the movements before the figure were, after completing and confirming the figure, the price of the trading instrument goes up 90% of the time. You need to understand that if a fully-defined tool (coin) is managed by one person (or a collusion group), then there is a high probability of fraudulent movements against logic and rules. But in 90% of cases work up.
Comment: A positive option for bitcoin. The same 300%
this is great work
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SpartaBTC charvey63
@charvey63, thank
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A Christmas tree chart.
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