XRP on the 4-HR and response to the JPMorgan coin issue.
Mis à jour
XRP on the 4hr
Housekeeping:
I use green trendlines for overhead resistance price levels.
I use orange trendlines for support price levels and to show price distribution patterns.
I use an orange dotted trendline to indicate the Primary Trendline and a dashed orange trendline to denote the secondary trendline.
My charts are volume bias.
Indicators:
Fibonacci retracement
Volume Profile
Volume
The data calculated Is contained in the chart area. If you expose the chart to more or less data, the Point-Of-Control may move to reflect the addition or subtraction of new data.
Nomenclature:
POC – Point-Of-Control is the price level for the time period with the highest traded volume.
VP – Volume Profile displays trading activity over a specified time period at specified price levels.
HVN – High-Volume Node are peaks in volume at or around a price level.
Technicals:
XRP is based on a 4hr timeframe.
XRP has traded very strangely since her precipitous fall on February 24, 2019.
XRP is trading in an uptrend channel denoted by the long green trendline and lower solid orange trendline. 2-data points on both upper and lower trendlines. XRP is still range trading as I have mentioned in my previous XRP charts.
I want to draw your attention to the two small lower and upper orange trendlines being used as short-term support and resistance price levels. (Alert recommendation)
Notice the last precipitous decline took the price action just below the POC and rebounded immediately to the .50 fib level. We are trading all around the .50 fib price level.
We have a Primary Orange Dotted Trendline with 2-data points giving a good reference for support. (Alert recommendation)
The last 5 days have seen some higher than usual volume with some high volatility to go with it.
Note the two green arrows point to the nearest high-volume nodes. This gives us an idea of where the short-term value is considered by investors.
I have included an overhead solid short-term green trendline to give some symmetry to my chart and show another price resistance trend that may be tracked by trading algorithms.
Conclusion:
As I am typing this the current candle has been as volatile as the one preceding it. There is a battle to remove stop loss positions and shake out investors on both sides of the trade. Because of the size of the candles, I feel the chance of a volatility squeeze has been reduced. As a swing trader with a volume based bias analysis, I look to shrinking volatility at defined inflection points for high probability volatility moves. I have a proven track record calling these moves right before they happen. In the case of XRP, probability suggests we will trade in between the two short orange supper and lower trendlines while volatility fades a little bit higher or lower towards the most relevant high-volume node.
I find the last weeks trading to be very interesting, especially since JPMorgan has indicated they desire to become a major player in instant global payments using a coin of their own, and their own blockchain. This could account for what I am seeing in this last week’s price action. Since Jamie Dimon denounced Bitcoin and all other virtual currencies as illegal in an interview sometime in 2017; Mr. Dimon has since changed his mind, and considering that JPMorgan is well-known for price manipulation and SEC violations, I would say that Jamie Dimon has recently validated the use of the blockchain. I also believe Mr. Dimon sees another opportunity to create money via their new JPMorgan token and manipulate the price action. There is no doubt JPMorgan has the financial wherewithal to compete on a global scale with the likes of XRP but does the brand JPMorgan bring with it, confidence and value for the consumer, or just another price manipulation scheme to bilk the consumer of their investment, slowly?
Is Ripple the best VC for use with bank to bank international transactions? Probably not. Ripple has to go through the normal changes any company and or new technology would go through before working out the kinks. But I believe Ripple is one of the best we’ve got right now to compete with JPMorgan. Oh, we may get caught in a battle with Dimon who has the money to destroy XRP by messing with the price action and scaring away investors, but if Ripple can continue to add banking institutions to their repertoire and continue to increase the speed of global transactions, we also may find ourselves on the ground floor of a unique opportunity to see the value Ripple can bring to the global market place. There are no guarantees in this crypto space and VC are dying as fast as they are being born, but this goes with the territory when you consider someone can just create and transfer perceived value on a global network and have a fiat gateway to reap the benefits in the currency of your choice from those transactions.
I am long XRP!
JPMorgan SEC Violations: sec.gov/news/press-release/2018-306
violationtracker.goodjobsfirst.org/parent/jpmorgan-chase
Trade Recommendations:
As part of any cryptocurrency portfolio, I believe the investor should have some exposure to XRP. What is important to understand about cryptocurrencies are that these investments need to be managed to truly profit handsomely from them. What I mean by that is quite simple; always have ready buys that are at probable extremes on the low side, that are unlikely, but probable. Do the same on the sell side where you can realistically see 20-percent or more in profits if you reach the high end of your sell side. This will vary per investor, but at the least give you the exposure to reap the rewards from a volatile trading space. Never sell your entire lot, but enough for a nice profit to put to work elsewhere. You can always add to your position with extremes in probable but unlikely lower price volatility moves.
For example, look back through the chart you are reviewing and see how many times the price spiked up and fell back, or dropped very low and then shot north and all those people holding long or short were stopped out of their trade while the smart players were positioned to buy on the huge swing and sell on the upward momentum move. If you follow me, you have read this advice from me more than once on my charts. In fact, I am considering adding those pricing areas for extreme buy and selling opportunities that appear unlikely, but probable. Just look at the current chart and the big “U” shape that stopped out longs and killed shorts. If you knew how to trade cryptos with a swing trader mentality, you would have had an opportunity to have profited during that seemingly unexplained move. This advice covers all cryptocurrencies. I have been fortunate to have made this part of my crypto trading early on, after learning my lesson that traditional trading where you try and protect your investment from losses ends up losing you money because the big money decides to come in and shake the small trade out! A winning trade becomes a losing trade!
I understand there are many views on this issue. If you have something constructive to add, I would enjoy reading it. If you just want to demonstrate how badly you were raised and how few manners you were taught as a child, please go elsewhere for your entertainment. The people that follow me are serious players in this game, and I am a serious investor, so serious and constructive comments are very welcomed.
If you think Biff has the knowledge and understanding to guide you through this whacky world of crypto trading, consider following me, and if you think the time and effort I put into my analysis is worth the read, consider a thumbs up so we can get the word out. I have nothing to sell, no website to promote and no merchandise to offer. So, I am interested in putting together a small group of investors who want to exchange ideas, desire to teach and to learn more about trading cryptos
Best,
Biff
Housekeeping:
I use green trendlines for overhead resistance price levels.
I use orange trendlines for support price levels and to show price distribution patterns.
I use an orange dotted trendline to indicate the Primary Trendline and a dashed orange trendline to denote the secondary trendline.
My charts are volume bias.
Indicators:
Fibonacci retracement
Volume Profile
Volume
The data calculated Is contained in the chart area. If you expose the chart to more or less data, the Point-Of-Control may move to reflect the addition or subtraction of new data.
Nomenclature:
POC – Point-Of-Control is the price level for the time period with the highest traded volume.
VP – Volume Profile displays trading activity over a specified time period at specified price levels.
HVN – High-Volume Node are peaks in volume at or around a price level.
Technicals:
XRP is based on a 4hr timeframe.
XRP has traded very strangely since her precipitous fall on February 24, 2019.
XRP is trading in an uptrend channel denoted by the long green trendline and lower solid orange trendline. 2-data points on both upper and lower trendlines. XRP is still range trading as I have mentioned in my previous XRP charts.
I want to draw your attention to the two small lower and upper orange trendlines being used as short-term support and resistance price levels. (Alert recommendation)
Notice the last precipitous decline took the price action just below the POC and rebounded immediately to the .50 fib level. We are trading all around the .50 fib price level.
We have a Primary Orange Dotted Trendline with 2-data points giving a good reference for support. (Alert recommendation)
The last 5 days have seen some higher than usual volume with some high volatility to go with it.
Note the two green arrows point to the nearest high-volume nodes. This gives us an idea of where the short-term value is considered by investors.
I have included an overhead solid short-term green trendline to give some symmetry to my chart and show another price resistance trend that may be tracked by trading algorithms.
Conclusion:
As I am typing this the current candle has been as volatile as the one preceding it. There is a battle to remove stop loss positions and shake out investors on both sides of the trade. Because of the size of the candles, I feel the chance of a volatility squeeze has been reduced. As a swing trader with a volume based bias analysis, I look to shrinking volatility at defined inflection points for high probability volatility moves. I have a proven track record calling these moves right before they happen. In the case of XRP, probability suggests we will trade in between the two short orange supper and lower trendlines while volatility fades a little bit higher or lower towards the most relevant high-volume node.
I find the last weeks trading to be very interesting, especially since JPMorgan has indicated they desire to become a major player in instant global payments using a coin of their own, and their own blockchain. This could account for what I am seeing in this last week’s price action. Since Jamie Dimon denounced Bitcoin and all other virtual currencies as illegal in an interview sometime in 2017; Mr. Dimon has since changed his mind, and considering that JPMorgan is well-known for price manipulation and SEC violations, I would say that Jamie Dimon has recently validated the use of the blockchain. I also believe Mr. Dimon sees another opportunity to create money via their new JPMorgan token and manipulate the price action. There is no doubt JPMorgan has the financial wherewithal to compete on a global scale with the likes of XRP but does the brand JPMorgan bring with it, confidence and value for the consumer, or just another price manipulation scheme to bilk the consumer of their investment, slowly?
Is Ripple the best VC for use with bank to bank international transactions? Probably not. Ripple has to go through the normal changes any company and or new technology would go through before working out the kinks. But I believe Ripple is one of the best we’ve got right now to compete with JPMorgan. Oh, we may get caught in a battle with Dimon who has the money to destroy XRP by messing with the price action and scaring away investors, but if Ripple can continue to add banking institutions to their repertoire and continue to increase the speed of global transactions, we also may find ourselves on the ground floor of a unique opportunity to see the value Ripple can bring to the global market place. There are no guarantees in this crypto space and VC are dying as fast as they are being born, but this goes with the territory when you consider someone can just create and transfer perceived value on a global network and have a fiat gateway to reap the benefits in the currency of your choice from those transactions.
I am long XRP!
JPMorgan SEC Violations: sec.gov/news/press-release/2018-306
violationtracker.goodjobsfirst.org/parent/jpmorgan-chase
Trade Recommendations:
As part of any cryptocurrency portfolio, I believe the investor should have some exposure to XRP. What is important to understand about cryptocurrencies are that these investments need to be managed to truly profit handsomely from them. What I mean by that is quite simple; always have ready buys that are at probable extremes on the low side, that are unlikely, but probable. Do the same on the sell side where you can realistically see 20-percent or more in profits if you reach the high end of your sell side. This will vary per investor, but at the least give you the exposure to reap the rewards from a volatile trading space. Never sell your entire lot, but enough for a nice profit to put to work elsewhere. You can always add to your position with extremes in probable but unlikely lower price volatility moves.
For example, look back through the chart you are reviewing and see how many times the price spiked up and fell back, or dropped very low and then shot north and all those people holding long or short were stopped out of their trade while the smart players were positioned to buy on the huge swing and sell on the upward momentum move. If you follow me, you have read this advice from me more than once on my charts. In fact, I am considering adding those pricing areas for extreme buy and selling opportunities that appear unlikely, but probable. Just look at the current chart and the big “U” shape that stopped out longs and killed shorts. If you knew how to trade cryptos with a swing trader mentality, you would have had an opportunity to have profited during that seemingly unexplained move. This advice covers all cryptocurrencies. I have been fortunate to have made this part of my crypto trading early on, after learning my lesson that traditional trading where you try and protect your investment from losses ends up losing you money because the big money decides to come in and shake the small trade out! A winning trade becomes a losing trade!
I understand there are many views on this issue. If you have something constructive to add, I would enjoy reading it. If you just want to demonstrate how badly you were raised and how few manners you were taught as a child, please go elsewhere for your entertainment. The people that follow me are serious players in this game, and I am a serious investor, so serious and constructive comments are very welcomed.
If you think Biff has the knowledge and understanding to guide you through this whacky world of crypto trading, consider following me, and if you think the time and effort I put into my analysis is worth the read, consider a thumbs up so we can get the word out. I have nothing to sell, no website to promote and no merchandise to offer. So, I am interested in putting together a small group of investors who want to exchange ideas, desire to teach and to learn more about trading cryptos
Best,
Biff
Note
If you're following me on Twitter, I sent out a Tweet indicating XRP was getting overextended. Also, notice that the price action gravitates to the nearest high-value node characterized by the upper right green arrow. My followers are seeing the true power of the Volume Profile. And also note we are back in between the two small orange trendlines because this is where Value is in the current price action. Things look a bit Bearish to me, but we'll see shortly!Best,
Biff
Note
Watch for trendline support!Note
No go... Never try and catch a falling knife! Looking for support at POC
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.