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📈 Price Predictions
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Tibetan Wisdom for Cryptocurrency Market Analysis

  • Vadique Magenta
    📈 Price Predictions

    The market is like a patient in the hands of a Tibetan doctor. All secrets can be revealed if one pays attention to the smallest signs.

Tibetan Wisdom for Cryptocurrency Market Analysis
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

When a trader has looked at charts long enough, it can become a kind of meditation, and he learns to notice the tiniest changes.

He uses the price graphs to determine the state of the market much in the way of a Tibetan doctor. He takes the market’s pulse and feels its condition: weakness or strength, activity or sleep, greed or fear, decisiveness or uncertainty.

The market, like an open book, reveals every detail about itself, you just need to know how to listen and understand

What a minute can do

Saturday early morning on the Bitfinex exchange, at 1.36 a.m. EST, in the course of one minute there was a large volume of direct sales — 2400 BTC. In this very brief interval, Bitcoin price changed by 7.30 percent.

Let me say that again: it was a 7.30 percent change in asset price within one minute!

pic

At the same time, on other exchanges, no such activity in BTC/USD could be observed. For example, let’s look at the Coinbase chart. Here, the candles are of the usual size and volume, nothing out of the ordinary...

pic

Consider all time frames

So why are we looking at the minute-long chart? Because for a full understanding of the situation, we need to consider all time frames. In some cases it’s important to see the nature of the purchases and sales, the briefest touches of levels, the reaction of the price when approaching these levels, and so on.

This way, in daily candles you could watch for the signs of a reversal or a continuation of the trend and make a strategic decision; the hourly candles could give confirmation of the hypothesis; and the smaller frames (M15, M5, M1) will show the best way to enter or exit a transaction.

Symbolically, on large timeframes we are looking at the horizon, and on the small ones we see what is happening under our feet. Here, strategy and tactics, a telescope and a microscope, a double bass and a violin do not contradict, but complement each other.

The market diagnosis

We are not going to wonder what happened that morning. Whether those were the actions of a manipulator or a some casual seller in China booked some profits for New Years presents, it does not matter. What matters, is that one sales impulse for one asset pulled the entire market behind it.

The secret methods of the Tibetan doctor lead us to the understanding that Bitcoin remains a  benchmark for the entire cryptocurrency market, and the Bitfinex exchange is the platform on which this benchmark manifests itself.

But if we do want to play the detective and imagine that Bitfinex is purposefully working on in shaping the market moods, we have to admit that it’s quite successful. So how can we take advantage of a sudden dump and cooling in the market?

It's very simple …

Prescriptive wisdom

At the same time with demonstrative Bitcoin sales on the top exchange, large purchases of other assets on the same exchange and on other exchanges are being made through pending orders. After all, this is the only way in which big players can accumulate a large volume at a good price, and their logic of entering and exiting a position differs from crowd logic. They buy on the decline and sell during growth.

For us, it remains to observe the transpiring events, not to forget the methods of the Tibetan doctor, and to make the correct trading decisions.

Wishing all readers a good day and profitable trades!

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About the author

Vadique Magenta is a financial analyst with experience in cryptocurrency trading.

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📰 News
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XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange

  • Yuri Molchan
    📰 News

    A major XRP community member shares data that XRP is generating 80% of volume on Bitso exchange that is Ripple’s partner at introducing On-Demand Liquidity in Mexico

 XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange
Cover image via www.123rf.com

After Ripple had rebranded its xRapid product as On-Demand Liquidity (ODL) and partnered with the largest Mexican exchange Bitso, the introduction of ODL in cooperation with MoneyGram starts bringing its first fruits. As part of the collaboration, Ripple has invested in Bitso and got them to add one of its top executives to the board of directors.

 

On-Demand Liquidity successfully integrated on Bitso

A member of the XRP community @XrpCenter reports that things are looking good for XRP on the largest Mexican exchange Bitso and for Ripple’s ODL product. ODL was introduced there after the crypto giant invested an undisclosed amount in the trading platform.

The chart in the tweet shows that the XRP/MXN pair now accounts for 80 percent of the overall trading volume of Bitso.

Bitso became the key partner of Ripple and MoneyGram at introducing On-Demand Liquidity to the Mexican market. So far, the implementation has been going successfully.

This has not impacted the XRP price much though, since over the last 24 hours it rose merely by 0.54 percent. Unlike it, BTC and its forks – BCH and BSV – have posted much higher gains, as reported by U.Today earlier.

XRP price
Image via Coinmarketcap

👉MUST READ

Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple releases its Q3 report

At the end of last week, Friday, Ripple issued its regular report on the results of Q3. In the document, Ripple covered several major issues, such as movements of XRP from escrow and back to it, recent Ripple’s partnerships with Logos, Algrim and other startups, Coinme crypto ATM network.

Ripple also addressed the issues of FUD (fear, uncertainty, doubt) that has been recently actively spreading around the company and its XRP asset.

Ripple Q3 report
Image via www.ripple.com

What are your thoughts on the Ripple expanding XRP use in Mexico? Share them in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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