XRP/USD Short Trade Setup Analysis (9H Timeframe - Bitstamp)

14 thg 2

🔹 Current Setup:

- 📈 XRP experienced a strong move upward following ETF news but is now approaching major resistance.
- 🔹 Price is testing the 0.618 Fibonacci retracement level at $2.66, aligning with the descending channel's resistance.
- 📉 Given the broader bearish trend, a rejection from this level could trigger a strong downside move.

- 📍 Key Resistance Levels (Potential Rejection Zones):
- 🎯 $2.87 (0.764 Fibonacci retracement & upper channel resistance)
- 🎯 $3.21 (Full Fibonacci retracement, invalidation level for bears)
- 📍 Key Support Levels:
- ❗ $2.48 (0.5 Fibonacci retracement)
- 🔻 $2.36 (0.382 Fib retracement)
- 📉 Deeper Target: $1.36 - $1.40 XRP (Projected based on Fibonacci extensions & channel breakdown)

📈 Bullish Scenario (Breakout Play)
- 🟢 Entry: Above $2.87 (If price breaks above 0.764 Fib)
- 🎯 Take Profit 1: $3.21 (Full retracement level)
- 🎯 Take Profit 2: $3.50+ (Potential bullish expansion)
- 🔴 Stop Loss: Below $2.66

✅ Justification:
- 🔹 If price breaks and holds above $2.87, the bearish structure could be invalidated.
- 🔹 Momentum from the ETF-driven rally might fuel another leg up beyond $3.00.
- 🔹 A strong breakout above $3.21 would confirm a bullish reversal.

📉 Bearish Scenario (Primary Expectation)
- ❌ Invalidation Level: Above $3.21
- 🔻 Downside Targets:
- $2.48: 0.5 Fibonacci retracement
- $2.36: 0.382 Fibonacci retracement
- $1.76: Key structure support
- $1.36 - $1.40 XRP: Final bearish target (0.272 Fib extension & channel bottom)

✅ Justification:
- ❗ Price remains within a descending channel, signaling a continuation of the downtrend.
- ❗ The ETF-driven pump appears to be a liquidity grab, leading to a likely reversal.
- ❗ A rejection from $2.66 - $2.87 would confirm bearish continuation, targeting the lower support zones.

⚡ Key Takeaways:
- 🔹 XRP is facing strong resistance at $2.66 - $2.87, a likely rejection zone.
- 🔹 A breakdown below $2.48 increases bearish pressure, targeting $1.40 XRP.
- 🔹 Bearish bias remains unless price breaks & holds above $3.21.
- 🔹 Expect price to follow the descending channel structure toward $1.36 - $1.40.

24 thg 2

Giao dịch đang hoạt động

So far so good. Breaking below a key support

7 thg 4

Đóng lệnh: đạt mục tiêu

1.6 target hit. expecting lower