Pushing the Crypto Adoption Curve
Week 37: Reviewing Last Week to Forecast Next Week
|Goldlight Research||Sep 16, 2019|| 10|
Every Monday we review pricing trends in BTC ETH and EOS, so we can improve our trading skills. So far, our recommendations are over 80% accurate and we’re getting better weekly, so good, in fact, we’re starting a fund (more on that later).
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In this issue:
Crypto Twitter gets excited about the pushing the crypto adoption curve
Price Movements for BTC, ETH and EOS
Call for Beta Traders on Tradecipher
Trending Across Crypto
Here’s what people are talking about this Monday.
Litecoin sponsors the Miami Dolphins vs New England Patriots Football game. Unfortunately it didn’t save the dolphins from losing 43 - 0.
Harbor launches four tokenized funds worth $100M secured on Ethereum, a vote of confidence for public blockchains
Bitcoin Cash becomes a standard feature on the latest HTC phone, pushing the adoption curve
Oil moved 20% overnight as Saudi exports were bombed, translating that into Bitcoin it would be a huge movement
Ethreal conference brings together Ethereum’s brightest minds for a glimpse into the futureI'm at the Dolphins/Patriots game today watching the GOAT play and rooting for Litecoin! Thanks to the for inviting us.JUST IN: has created tokens on the blockchain representing the shares of four real estate funds worth $100 million. Report byToday has announced support for Bitcoin Cash as part of a new partnership with . They will begin pre-loading our wallet app directly onto the new Exodus 1 smart phone. news.bitcoin.com/htc-adds-nativ…Looking at options price - the 20% oil move at the open is a 10 standard deviations event. Normal distribution implies this should occur < than once every 1 billion years ➡️Financial assets don't follow normal distributions: fat tails! An equivalent move for BTC would be 40%
Overall Market Movements
Price movements across all three assets we cover are just as volatile as ever. Volatility represents a huge opportunity for traders, and here we evaluate the trades from last week.
Since hindsight is 20/20, we evaluated ‘perfect’ trade opportunities, if we called every asset correctly - which would have yielded us around 20.2% in profit with an average of 5 trades in a week!
Bitcoin Price Movements
Bitcoin price this past week was non directionally volatile, with price often returning back to a mean. The three opportunities this week were significantly less volatile than prior weeks, with no trend netting double digit gains.
The top of BTC trends continue to be derived from high volume candles with wicks at the top. The $10,488 doubled topped, and the second wick drastically sold off, a reminder of the power of the double top. The reversal off $9,814 could have been predicted by observing the large buying pressure creating by the large wick on high volume. The current bottom of the trend has irregular volume on the weekly, and could possibly indicate a near term bottom in trend.
If we were to perfectly trade the market we could have turned $100 into $119 in just one week with just six trades.
Ethereum Price Movements
Ethereum price movement this past week was highly directional to the upside. After price plunged into support, it rose drastically - a good observance for next time. Price tops and bottoms were identified with large wicks, and a high trading volume. The large movement to the upside may present the start of a reversal in Ethereum price trend as the past two months have been very negative.
If we were to perfectly trade the market we could have turned $100 into $120 in just one week with just four trades.
EOS Price Movements
EOS price this week dominated top altcoin leaderboards, leading the charge in gains for top altcoins. Tops and bottoms within EOS this past week were hard to spot. We have been using a range bound strategy that relies purely on price and not price action to determine directional movements. Notice the extreme dampening of volatility between the 12th leading into the breakout on the 14th, as price barely traded within a 2% daily range. This slowing of price change often leads to a major directional price movement, as seen with the rapid push to $4.10 (which we caught ahead of time).
If we were to perfectly trade the market we could have turned $100 into $123 in just one week with just four trades.
Call for Tradecipher Beta Traders
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