Is XRP brewing a bear trap on the 4-hour chart?
$XRP /USDT - SHORT
Trading Plan:
Entry: 1.4226 – 1.4326
SL: 1.4752
TP1: 1.3919
TP2: 1.3681
TP3: 1.3324
Why pay attention to this setup?
- The current price is 1.4276, with the direction clearly SHORT, but confidence is only 55%, indicating market indecision.
- The 1D trend is range-bound, meaning there is no one-way market, making it suitable for selling high and buying low.
- RSI (15m) is at 51.18, neutral to slightly weak, with no conditions for chasing longs.
- Key levels: TP1 is at 1.3919 and TP2 at 1.3681 below; SL is at 1.4752 above,