#Write2Earn
XRP
Sl 2.58
My Target is 2.003(partial target)đ„ is enough for me.
The chart shows a potential bearish harmonic pattern, likely a continuation of the bearish Crab pattern weâve been tracking, given the deep retracement levels and the structure of the price action.
X to A (Initial Move): From the low at 1.8592 to the high at 2.5800 (consistent with previous analyses).
XA range: 2.5800 - 1.8592 = 0.7208.
A to B (Retracement): Price pulls back to 2.1654.
AB retracement: 2.5800 - 2.1654 = 0.4146.
Fibonacci retracement of XA: 0.4146 / 0.7208 = 57.5%, which fits within the 38.2% to 88.6% range for a Crab pattern (though closer to a Gartleyâs 61.8%).
B to C (Rally): Price rallies to 2.5800 (a second high, matching X).
BC retracement: 2.5800 - 2.1654 = 0.4146.
Fibonacci retracement of AB: 0.4146 / 0.4146 = 100%, which is slightly outside the typical 38.2% to 88.6% range for a Crab or Gartley, but weâll proceed with the Crab due to the deep AB retracement.
C to D (Current Move): Price is dropping from 2.5800 toward a potential D point. The current price is 2.4266.
For a Crab, D is typically at a 1.618 extension of XA:
XA range: 0.7208.
1.618 extension: 0.7208 * 1.618 = 1.1663.
From C: 2.5800 - 1.1663 = 1.4137 (D point).
For comparison, the 88.6% retracement of XA (as in a Bat pattern) would be:
88.6% of 0.7208 = 0.6386.
From A: 2.5800 - 0.6386 = 1.9414 (D point).
The deep AB retracement (57.5%) and the potential for a 1.618 extension of XA confirm this is a bearish Crab pattern, with D projected at 1.4137. The current price (2.4266) is on the CD leg, moving toward D.
Please support the bearish crab pattern.
đđ„đ€đđđ
