XRPUSD - 4h - Breakout up or down?

2020年12月3日

Not a financial advisor!

Not biased on a specific direction therefore looking at the price breakout.
Probably I am opinion biased but if the market shows me something else...I have to change in accordance to it!

Considering current price action trend + RSI support + Stoch RSI ... I am surely leaning bullish.
If this is Bull Flag it will be easy to calculate the target.
Some supports below!

2020年12月4日

註釋

RSI 1D looks a bit overextended! => this would be an argument for a dump!
RSI 4h looks like it is holding support! Still can go lower!
Volume decreasing!

Only consider a breakout in case you see a relevant price candle size AND volume!
At the moment price has gone through the Apex of the triangle as if the triangle formation was not there. Therefore possibly a more reliable way to see it would possibly be looking at horizontal ranges.

2020年12月4日

註釋

RSI 1h seems to be holding that long term support.
Below some horizontal levels to consider at this consolidation that can be used to increase or decrease your position.