Connect with us

Bitcoin

TRX/BTC and XRP/BTC Price Analysis: What Demoralization Looks Like on a Chart

Published

on

XRP/BTC
READ LATER - DOWNLOAD THIS POST AS PDF

It turns out that nothing really demonstrates the underlying character of the action we have seen over the past month in the cryptocurrency complex like the charts of some of the more volatile large market cap pairings.

For example, we’re going to take a look at the charts for TRX/BTC and XRP/BTC below, which feature some powerful trends that exemplify the importance of Bitcoin as an island in a sea of volatility.

TRX/BTC

Price Analysis

  • High: 0.00000325
  • Low: 0.00000301
  • 24-Hour Volume: 3.996M
  • MACD Signal: Sell

The TRX/BTC pairing features an extraordinarily consistent downward trend on the chart since late April.

The action has been steady and consistent and suggests a gradual liquidation from secondary to primary in this paired relationship, as one might expect during a flight to safety period for accounts denominated primarily in Bitcoin.

That said, by the same token, one might see this TRX/BTC pairing as a potential indicator of sentiment among more serious crypto traders. In other words, TRX/BTC is where we might see the most important inflection when the animal spirits begin to rise again in the cryptocurrency space.

That said, at this point, the TRX/BTC pair remains in a downtrend mode, trading beneath all its major moving averages with major oscillators camped out in deeply oversold territory.

XRP/BTC

Price Analysis

  • High: 0.00004753
  • Low: 0.00004413
  • 24-Hour Volume: 3.449M
  • MACD Signal: Sell

XRP/BTC has been a relatively uninteresting pair since the extraordinary spike we saw to close out 2017. For the most part, this pair has been in a gradual bearish slide that has only recently begun to accelerate as XRP has fallen off the end of a table against just about everything.

One interesting technical signal we see at present on the XRP/BTC chart is a potential bullish divergence on the 14-day RSI, with the print over the last 48 hours reaching a pivot low around the 20 level, which compares with the print under 13 at the pivot low formed in late July.

Since that late July low was at a much higher level on the XRP/BTC chart, the much lower score on the 14-day RSI is a potentially bullish signal of a loss of downward momentum underneath the surface of this chart.

This is certainly something to watch out for given the explosive nature of this pair when momentum comes back in and animal spirits are engaged.

Happy Trading~

To trade cryptocurrencies, sign up with BitMexor Binance!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Charts courtesy of tradingview.com

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

Continue Reading

Elite