🚨 Important Trading Alert! 🚨
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In the 1-day timeframe for the XRPUSDT chart, we've identified a rising wedge pattern. This formation is generally viewed as a bearish indicator, as it shows the price gradually increasing between two converging trend lines. Notably, each time the price touches the upper boundary—acting as resistance—it tends to reverse and decline back toward the lower boundary, which serves as support.
Given this pattern's historical behavior, it appears likely that the price will once again approach the resistance level soon. However, instead of breaking through, it may bounce back down to the support line. This consistent back-and-forth movement reinforces the expectation that a similar scenario may unfold in the current market.
Entry Price: $0.6775
Trade Type: Short
Take Profit Targets:
1️⃣ 1st TP: $0.6455
2️⃣ 2nd TP: $0.6165
3️⃣ 3rd TP: $0.5955
Stop Loss: $0.7035
Leverage: 30x - 20x
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