Both Ripple [XRPUSD] & Bitcoin [BTCUSD] act differently, move differently,
behave differently, and have separate personalities … over the last 5 - 10 trading
days [counting weekends], Bitcoin has morphed into Ripple, and Ripple has
morphed into Bitcoin … one turning into the others trading action … Bitcoin
noticeably slowing down and Ripple picking up volatility power … this is classic
Bitcoin versus alt-coin behavior, and throughout cryptos short history, it usually
signals “corrective trading moves” from the major trend over
weeks/months/years … why should now be any different?
As I said in a previous blog post, when SHTF in BTCUSD, there’s nowhere to
hide … cash, futures, perpetual futures, open order book, MT4 or MT5, or
proprietary platform, it ain’t gonna matter cuz everywhere it’s ugly … spreads
blown to hell, and not an LP or order book that’s gonna be stable and/or fair for
filling orders … it’s the nature of the beast … right now, and really for the last
10 days, XRPUSD has been the better mover, and IMHO, PHEMEX is the place to
be to trade Ripple … while normal activity in BTCUSD since before the U.S.
election has been routinely “bat shit crazy”, the bid/offer spread + round turn
[RT] “taker” fee [market orders] = approximately 0.0009 on a RT trade with both
sides done at the market … XRPUSD trades to the fourth decimal place and is
currently quoted as i write on PHEMEX at 0.5473 bid - 0.5474 offered, and the
24 hour range in Ripple is 0.5871 high - 0.5232 low … that’s a 639 point range,
and represents approximately 11 ½ % the value of the coin … that’s 2X - 3X more
than BTCUSD over the last 24 hours … and while BTC has very high “taker” fees
cuz of it’s size, it makes volatile trading very expensive … unless of course
you’re at Turnkey where conditions are much better … however, even at Turnkey
you have to be very cognizant of widening spread on a moments notice
… especially as BTC approaches a key support/resistance level and the HFT LP’s
look for protection from potential stops … so, BTC by no means tradeable 100%
of the time … Ripple pretty much!
BTC lately has lost some “oomph!” … this is normal in a corrective phase from
the kind of run that saw price DOUBLE IN 8 WEEKS … how long will it last?
… dunno, but I’d bet even money 2 things will happen first before it makes its
next MAJOR MOVE HIGHER … 1) a big intraday spike lower that closes strong
and sees a day’s range of something like $1400, and 2) ripple slows down some
while BTC heats up … see these 2 things happening and every break in price can
be bought … and don’t be at all surprised if it’s the “Chuckleheads” in the Asian
session for the lows, and the U.S. session for the highs.
All of today’s algorithm signals action in BTCUSD came either in the Asian
session or very early in the Europe session … since then it’s been a bucket of
slop … the problem here is twofold … 1) everybody and their brother can look at
a daily chart [among others] and see this market needs some corrective activity,
so the FOMO [Fear Of Missing Out] panic buying has disappeared, and 2) the
“whales” who wish to accumulate at lower prices have a “bigly & yuge” vested
interest to see lower price … specs panic sell, they back the truck up and buy
… in anything valuable over the decades and centuries, this is the way it’s always
been … it won’t be any different here.
Ripple”s main attractiveness is it’s 1) price [cents], 2) it’s relatively low “taker”
fees for its normal volatility, and 3) good liquidity & volumes … and for small
spec accounts with very little capital [e.g., a couple of hundred bucks OR LESS],
it’s a great coin to trade to build capital as well … like in all things, though, while
Turnkey has the very best trading conditions for Bitcoin, conditions for Ripple as
well as the others literally STINK … do the math Skippy, you wouldn’t ever trade
these at Turnkey … BTC most definitely, the others most definitely NOT.
Up in the upper right corner of the blog are 2 TURNKEY banners … the first is
the “Power of Attorney” [POA] in PDF for joining the PAMM / MAM … today I’m
allowing people to GTFO of the U.S. with some funds and reopening the
PAMM / MAM where I’m trading Bitcoin pretty much exclusively … call it the
“JoeMala Special”, cuz I’m not at all sure about SCOTUS … from my perspective
there are 4 Justices I wouldn’t trust as far as I could spit … they are corrupt
hacks with agendas … the other 5 , I guess we’ll see here shortly … but I
wouldn’t be surprised if one of ‘em went “turncoat” to the election process and
dooms Trump, and allows the biggest dope in the history of the U.S. to be
Preezy, right along with his Communist sidekick … and so, I reopening the
PAMM / MAM for 2 reasons … 1) to help safeguard funds while actively trading
the ONLY FREE MARKET LEFT, and 2) build the account for a highly uncertain
future, away from government and the Apparatchiks that are gonna want to take
it from you … and trust me, they will come for it!
No trades today in the TURNKEY PAMM / MAM.
All the action before I even got up … I get up and it dies … go figure … in any
event, no worries cuz this stuff won’t stay quiet for long.
Algorithm signals today in XRPUSD for “The Syndicate” … UP slightly less than
0.3%
As I said, right now it’s giving better trade signals than BTC, plus it’s more
volatile … and of course, we get paid to be an LP on “maker” fees [limit orders]
… what’s not to like?
Blog update on Sunday … full steam ahead! … Onward & Upward!!
-vegas
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