XRP versus Bitcoin - How to play one off the other
Updated
XRP / BTC – Weekly Performance Time Analysis
A stark realization looking at this chart is just how long bear periods are for the XRP/BTC pair suggesting that you are better to hold BTC until a buy trigger event occurs for XRP.
The POC is a vital area to watch (explained in the chart). If we find support above/on it, we have room for major upside as there is little to no price volume above it.
If these two points above is all you take from this chart, GREAT! More below…
Buy into XRP Trigger Events:
- Test of lower diagonal trend lines
- Break above and retest of POC as support
- Bear periods lasting longer than 23 weeks means start paying attention for buy opportunities
- Break above 20 week SMA (means pay attention also)
Sell into BTC Trigger Events
- Test of upper diagonal trend lines with rejection
- Hitting the POC resistance would be a sell event for me, it will very likely be stiff resistance. You can always re-enter once we find support above it and you can always leave something small on the table to keep you
interested.
- Bull periods lasting longer than 7 - 10 weeks be cautious (take some profits). We are here now.
- Break below the 20 week SMA has not been good for XRP most the time, also if it acts as resistance or if price oscillates around it when is downward sloping, the outcome is typically not great.
Bull and Bear Time Frame Determination:
I have done my best to use any >15% candle close above the 20 week SMA as a bull period. I have also tried to use common sense to try and determine downward or upward price structure…so some of this chart is my interpretation of bullish versus bear price action. However I think the general trend(s) are there to see. You can make your own interpretations also. The chart after all is only to provide some assistance in your trade, maybe help reach a decision, one way or the other.
A stark realization looking at this chart is just how long bear periods are for the XRP/BTC pair suggesting that you are better to hold BTC until a buy trigger event occurs for XRP.
The POC is a vital area to watch (explained in the chart). If we find support above/on it, we have room for major upside as there is little to no price volume above it.
If these two points above is all you take from this chart, GREAT! More below…
Buy into XRP Trigger Events:
- Test of lower diagonal trend lines
- Break above and retest of POC as support
- Bear periods lasting longer than 23 weeks means start paying attention for buy opportunities
- Break above 20 week SMA (means pay attention also)
Sell into BTC Trigger Events
- Test of upper diagonal trend lines with rejection
- Hitting the POC resistance would be a sell event for me, it will very likely be stiff resistance. You can always re-enter once we find support above it and you can always leave something small on the table to keep you
interested.
- Bull periods lasting longer than 7 - 10 weeks be cautious (take some profits). We are here now.
- Break below the 20 week SMA has not been good for XRP most the time, also if it acts as resistance or if price oscillates around it when is downward sloping, the outcome is typically not great.
Bull and Bear Time Frame Determination:
I have done my best to use any >15% candle close above the 20 week SMA as a bull period. I have also tried to use common sense to try and determine downward or upward price structure…so some of this chart is my interpretation of bullish versus bear price action. However I think the general trend(s) are there to see. You can make your own interpretations also. The chart after all is only to provide some assistance in your trade, maybe help reach a decision, one way or the other.
Note
Please see my XRP/USD chart for an fundamental and chart update XRP/BTC Chart
I want a break above POC on the chart. This would be incredible for
XRP- Breaking out of the long term pennant
- Above the 20 Month MA
- Potentially into a new green timing window
That POC resistance overhead is no joke, it is a grossly over traded zone and we should expect resistance on the BTC pair here.
Its not necessarily a bad thing. Once we find support above it we can really start to relax and let the trend ride.
Note
Just waiting for price to establish itself above the POC. We are not into that safe territory yet and we could be waiting a while
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