$XRP
XRP/USDT
The asset is currently experiencing a clear downward flow of orders after rejecting the global supply zone and forming a strong peak.
Market Analysis:
Structure: The trend remains bearish, supported by repeated breaks of structure (BOS) in the downward path.
Liquidity Source: A significant weak bottom is forming near the 1.3430 level. This area features a high concentration of sell liquidity, making it a major price magnet.
Current Movement: The recent local bullish movement and change of character (CHoCH) appear to be a corrective move aimed at trapping early buyers before the next downward wave.
๐ Plan:
Maintain a bearish outlook as long as the supply zones (red boxes) remain intact. We expect the trend to continue towards lower liquidity levels.
Patience is the key to precision โก๏ธ
XRP/USDT
The asset is currently experiencing a clear downward flow of orders after rejecting the global supply zone and forming a strong peak.
Market Analysis:
Structure: The trend remains bearish, supported by repeated breaks of structure (BOS) in the downward path.
Liquidity Source: A significant weak bottom is forming near the 1.3430 level. This area features a high concentration of sell liquidity, making it a major price magnet.
Current Movement: The recent local bullish movement and change of character (CHoCH) appear to be a corrective move aimed at trapping early buyers before the next downward wave.
๐ Plan:
Maintain a bearish outlook as long as the supply zones (red boxes) remain intact. We expect the trend to continue towards lower liquidity levels.
Patience is the key to precision โก๏ธ