XRPUSDT wants the breakout from the key level?

17 thg 1, 2023

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.

• 🟣 Purple structure -> Monthly structure.
  
• 🔴 Red structure -> Weekly structure.
  
• 🔵 Blue structure -> Daily structure.
  
• 🟡 Yellow structure -> 4h structure.
  
• ⚫️ Black structure -> <= 1h structure.
  

Follow the Shrimp 🦐

21 thg 1, 2023

Ghi chú

a clear false breakout inside a pennant. now the price is testing the upper trendline as support. ready for the breakout

22 thg 1, 2023

Ghi chú

the price is testing the daily resistance

23 thg 1, 2023

Ghi chú

8% as expected

23 thg 1, 2023

Ghi chú

so clear

24 thg 1, 2023

Ghi chú

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.

27 thg 1, 2023

Ghi chú

Waiting for the breakout from the bull flag