sell
Short XRPUSDT Near $3.518 as Correction Probable Based on Harmonic Patterns
A short position on #XRPUSDT is advised from the entry point of $3.518, with a stop loss set at $3.9006.
On the daily time frame, XRP is situated within the 141-161 Fibonacci retracement zone, which is often associated with potential price reversals.
Additionally, the daily chart displays a harmonic "Butterfly" pattern, along with additional patterns like "Deep Crab" and "Crab", indicating an increased likelihood of a correction.
The optimal target is identified at the weekly FVG levels between 2.8048 and 2.3266. Breaking the level of $3.3530 may lead to a Change of Character (ChoCH). A recent fractal signal on the daily chart suggests a selling opportunity, and a "Turtle Soup" pattern is forming at the weekly level.
Profit-taking points (take profit levels) are marked with white lines. After reaching the first take profit, it is advised to move the stop loss to breakeven.
Caution and strict risk management are recommended when executing this trade.
This analysis was provided by Neo Academy. Please review the chart and trade carefully.
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AI Analysis
The provided analysis indicates a bearish outlook for XRPUSDT, supported by multiple technical signals. The coin is currently within a key Fibonacci zone (141-161), a typical area where reversals can ...
AI Recommendation
Given the technical signals, it would be prudent to establish a short position at the recommended entry point of $3.518, with a stop loss at $3.9006 to limit potential losses. Traders should monitor t...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.