There are several ways. The best would be to cheese it with bomb/border abuse.
Another, if you are playing normal, would be to swap throught the red waves before they open. However, it needs some practice and is easy to be failed.
Or if you want to do it normally, just dodge at the bottom of the screen. The blue-violet waves should be easy, and you can read the red waves by looking at them while they open.
Also, I suggest you to open Saigyouji Flawless Nirvana (IN card 221) for practice on that card, since it has pretty much the same pattern.