RIPPLE Short term minor fall back was expected towards 0.50000

2 dic 2020

XRPUSD
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⏳30 Mins chart
🎲 Possible entry analysis
⛳️ Possible bull/bear target
📚Educational

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Detailed analysis 💬

1️⃣ 0.80000 Acted as strong resistance-Key psychological level
2️⃣ Rising wedge pattern
3️⃣ positive risk sentiment, Vaccine news
4️⃣ 0.60000 Dynamic support and resistance
5️⃣ Strong demand for crypto's (Bircoin,Ripple,Tether,Etherium etc.,)
6️⃣ 50% Fibonacci around 0.62500
7️⃣ Technical support - short term bearish
8️⃣ 0.50000 will acted as key reversal-Bullish
9️⃣ Previous week low-Immediate resistance-Alternative bullish entry
🔟 Break and retest of the Rising wedge structure happened
#️⃣ Overall trend- bullish

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📉 Technical bias-H4-Bearish

Price is below 50,100,200 Exponential moving average
50,200 Exponential moving average will act as support-Bear
Ichimoku cloud -cloud is still red-Middle line supports bearish trend
Bollinger band- Price reached around the lower band-Short term bullish correction towards middle band
Relative strength index - Felled below 50 - Bearish trend
MACD -Turned red and felled below the signal line, Oscillators pointing downward
Stochastic - Reached around 20- oversold condition will give a short term pull back expected


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Key reversal area's

0.80000 psychological level
0.61675 Point of control area Volume analysis
0.79000 Nov month high
0.62480 50% Fibonacci retracement level
0.55450 Minor resistance level
0.60530 Possible entry- Bear
0.50000 Trendline resistance/Alternative bullish entry

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Bearish entry #ripple #xrpusd

Entry price - 0.62540

Take profit 01 - 0.55450
Take profit 02 - 0.50200


🚫 Stop lose 0.63900

⬇️ 17.12% Drop expected
⤴️ Account growth 5.7: 17.1
✅ Risk reward ratio 1 : 3

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