Who will win: Bitcoin or XRP. What price will fall more?
I just want to go very quick update on the bitcoin situation and also just quickly mentioned what's happening here with ripple Xrp as well. Our guys, so first of all in regards to Bitcoin, it's becoming increasingly difficult to call this market and just the action here on Bitcoin has been extremely frustrating over the last few months and I think I know the reason why and I'm gonna just talk about it very briefly in this video. So first of all, as you probably remember from my video last week, we had some nice little action going to the upside here on bitcoin actually broke through some important resistance levels and I actually thought, you know what? This move with rising momentum could actually be the potential big move that we were waiting for. Why a potential big move? Because these red dots you see here on the pulse, these red dots indicate that a potentially significant move is coming for bitcoin and other words that transitioned from low to high volatility is what these red dots are indicating.
Now the pulse has enough fired, yet in other words, they're red dots have not turned from red to blue yet, which is when the pulse fires, but the bottom line is that the action of the last few days has proved that we're not going to get that pop to the upside and this market is becoming very difficult to call it at present. Now, on Sunday, I told our members that if bitcoin drops below 6,300, in other words, if it closes below this level, 6,300 of why this level, because that's where the velocity position is, that's the last velocity green position is, and I said, if if it drops and closes below that level, then the odds will significantly shift to the downside. Now, the war is the balance of probabilities will turn from bullish or neutral to bearish, which is what happened yesterday. You can see like yesterday we got a close below the velocity position below $6,300.
I can see the momentum and the price moved lower. And just to show another example, here's another example for you from the rally. We had a few, uh, a few months ago, so as you can see over here, here's a good example for you right here. So you can see we had a nice little rally here back in August. Okay. And when the price drops and closed below the velocity below the lte velocity position here, right here on this bar, you see there, that essentially opens the door to further selling pressure. In other words, it changes the balance of probabilities from bullish to bearish. Let me see another example. Here's another example for you from back in July, so you can see in July we had a rally here in bitcoin. And then look what happened here. Then price closes below the velocity position right there, okay, on that bar.
And that immediately then opens the door to further setting because the balance of probabilities changed from bullish to bearish. So that is one of the reasons why I always keep an eye on the velocity and where the price is in relation to it. Alright guys. So bottom line is this, we need to wait and see what's going to happen with, first of all the pulse. I'm okay. There seems to be some momentum gathering to the downside right now as I'm making this video. There seems to be a transitioning from red to blue as you can see here with downward momentum now. It's not been confirmed just yet, but I need to wait and see how the market closes today, but there's certainly something happening here and regards momentum and the pulse, but also I would say we need to also wait for a delta vortex.
The smart way you should try to start Bitcoin trading with small amount of money
That Delta Vortex here often gives very reliable reversal signals, so if a trader is looking for a highly probable reversal or a potential, let's say buy signal than for example. Here's an example for you right here. Back in August, price of bitcoin dropped. We got this consecutive. You can see we had the warning signal with the orange and then the blue reversal signal or if you want to call it the buy signal right over here. And of course he can see the bitcoin prices rallied and you can see we've not had. We haven't had a delta vortex reversal signal or blue signal for a very long time since back in August. So perhaps one of the best things we can do right now, just be patient and see what's going to happen with the pulse and what's going to happen with the Delta Vortex and just in case you're wondering will be releasing Delta Vortex in by January 20, 19 of next year.
Let me just comment here. What's happening with Xrp now Xrp by the way, here's another example for you here on the Delta Vortex here, which I mentioned in yesterday's video about oil as well because he xrp here dropped and we had the heads up the orange signal and then the blue confirmation signal. You can see there was a very nice, highly probable reversal signal and you see from that point a rippled began to in fact stage a reversal and we have another one over here. He said, ripple dropped. We had the heads up and the blue, a confirmational signaling can see that ripple here stage reversal. So I think that often waiting, I'm just being patient for these Delta Vortex. A reversal signals can often be a good idea. Now I would just say this Xrp is holding a lot better than certainly bitcoin. It's holding actually a lot better than some of the other cryptos.
For example, back on Sunday, I mentioned xlm stellar. Now look at the xl m and you see that despite the breakout, despite the breakout had had from this triangle formation here and I mentioned on Sunday, so keep an eye on this because if Xlm, if stellar goes back inside the triangle formation, that means the breakout was a false breakout and you can see when price action goes back inside, inside the consolidation pattern, inside the triangle formation, that essentially negates the breakouts. Now, let me just show you xrp again. Uh, so as far as Xrp is concerned, look, it's holding better than some of the other cryptos. It certainly holding above is 21, daily average, which is good, and it's also holding above its velocity position. Okay. And as long as it's above these key levels, that is a sign of strength. The key levels for ripple to protect is going to be 45.
These key support levels, and of course mainly this level here, this low right there you see at, um, whereas that level, by the way, a 38. Okay, so in order for ripple to continue with strength, it does need to these key levels at 45 and certainly significantly staying above 38 if ripple worth to drop and close below the support levels that I'm talking about here, that would actually open the door to potential selling pressure on Xrp. But at the moment it's actually holding better.
Alright guys, thanks very much indeed and I'll see you guys in the next update. Bye for now.