Week 38: Reviewing Last Week to Forecast Next Week
|Sep 24||Public post|| 2|
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.
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In this issue:
Crypto Twitter is a bag of mixed emotions as price slowly declines
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.
American traders rejoice! Binance.US is opening deposits September 24th for 13 assets
Googles Quantum computer is coming to crack your passwords
Bitfinex’s perpetual swap products are most definitely not as popular as they were hoping…
The US Dollar or Bitcoin, one has got to go. Which do you choose?
If all of the people controlling the mining power of Bitcoin fit within a small room, is Bitcoin decentralized?
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 40% in profit with an average of 7 trades in a week!
Bitcoin Price Movements
There were three directional movements on Bitcoin this week. None of them, however, were double-digit returns unlike seen various times in ETH and EOS. The tops and bottoms of these trends once again continue to be defined by clear selling or buying pressure seen in the wicks and high volume. Given the current trend is already down 8%, it may come to an end soon and start a new positive trend.
If we were to perfectly trade the market we could have turned $100 into $127 in just one week with just six trades.
Ethereum Price Movements
Ethereum price movements this week were extremely volatile compared to the past. With 4 clear directional trends, there were several opportunities to make money. Tops and bottoms were mainly defined by volume, not necessarily wicks. After periods of accumulation, the price changed in rapid directions, another useful takeaway for next weeks trade thread.
If we were to perfectly trade the market we could have turned $100 into $153 in just one week with just eight trades.
EOS Price Movements
EOS has fallen significantly over the past week, however, the best trades were scalping both long and short. A main technical takeaway from last week is to short rallies when they reached the base of the previous trend.
If we were to perfectly trade the market we could have turned $100 into $140 in just one week with just eight trades.
Call for Tradecipher Beta Traders
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