XRPUSDT: +30% On Outbreak
If we forget about all these wicks happening recently and solely focus on the actual trading substance, you'll notice that an ascending triangle is lurking in the data.
As per classic technical analysis, these triangles may indicate a continuation in 70% of cases and a possible breakout is backed by its continuous RSI uptrend.
I'd consider a confirmation 5% above breakout point, which would lead us to the lowest entry of 0.58 usdt.
Based on ruler measurement, we are facing up to 30% growth prior confirmation which would lead us to a highest sell point at around 0.61 usdt.
Due to the recent wicks (which I assume are stop hunts in both directions), I'd consider to put them well beyond the wicks that already occured.
My observation is backed by my TA looking at the bigger picture:
As per classic technical analysis, these triangles may indicate a continuation in 70% of cases and a possible breakout is backed by its continuous RSI uptrend.
I'd consider a confirmation 5% above breakout point, which would lead us to the lowest entry of 0.58 usdt.
Based on ruler measurement, we are facing up to 30% growth prior confirmation which would lead us to a highest sell point at around 0.61 usdt.
Due to the recent wicks (which I assume are stop hunts in both directions), I'd consider to put them well beyond the wicks that already occured.
My observation is backed by my TA looking at the bigger picture:
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