Premium Daily Crypto NewsletterSeptember 13, 2018
Watch this video to see how to use this newsletter. Click the square in the lower right to expand the view.
Check Out Doc's Trading Book
Have You Read Our Free Ebook?
Crypto Market Commentary
Mav's Daily Commentary
Dead Cat Bounce Or The Start Of Something?
The crypto market seems to really hate when I travel. Or, rather, it hates to stay still.
With a nice 10 Billion rally today, we clearly bounced off our new yearly low and while the wounds are still fresh, it’s nice to have victory after a week of losses.
Most surprising of all is Ethereum, which jumped $40 and 15% to get back into the $200 range.
So, it was a small victory for many coins today, but a victory nonetheless. What will be interesting is if we can sustain this move or it will just be another dead cat bounce. Based on the current volume it seems unlikely we will see explosive growth without a better catalyst.
Still, anything is possible with crypto.
It’s no secret crypto trading is down. With trading down somewhere between 70%–90% depending on who you ask, factor in the independent research by Blockchain Transparency Institute claiming $6B in daily trading volume is being faked, not to mention the fact that token values have fallen by nearly $700B since January. Sprinkle in research that 80% of ICOs are scams (something like 95% never make it to an exchange and less than 1% have developed anything) and you should hear alarm bells.
It seems like madness to be investing your money or even worse yet investing your career and risking everything like so many of us are doing.
And yet, crypto and blockchain are not just surviving, but thriving.
The dust is settling and we are seeing some absolutely astonishing advancements and disruptive technology taking shape. What’s more, it’s still in its infancy.
If you are old enough or studied enough to remember the dot-com boom, there are some very eerie similarities to what we saw then and what we have seen this past year in crypto. In fact, Bloomberg just reported that the Great Crypto Crash of 2018 was worse than the dot-com crash.
The dot-com boom was a period of excessive speculative investing that happened between 1995–2000 when money was pouring into anything that had a .com behind it (often with companies that had no planning or real strategy) and it was following by the dot-com crash when many of those companies failed.We saw the same pattern over the last year: excessive speculative investing into into companies with no real planning or strategy.
But there was good news then and there is good news now.
In spite of the murky waters and shady characters that are responsible for the crash, there are beacons of light paving the way. Pioneers with plans. Developers on a mission. The smart, honest, brave, as Steve Jobs puts it, “the hungry, the foolish” that are working around the clock to transform how money is defined, how transactions are made and are hell-bent on decentralizing the process.
Blockchain and crypto are still in their infancy, prodigious things are being developed around the globe by the brightest minds, and we are experiencing a transformative technological economic revolution. The biggest companies are investing and the biggest companies of the future are just being born. Yes, we experienced a boom and bust because of speculative investing into companies with no plans or outright scams and a frenzy of hysteria took place, but the dust is settling and I am confident we’ll see the hungry and foolish disrupt and decentralize the world.
Blockchain and crypto isn’t dead, it’s alive, well and thriving.
I look forward to sharing some of my stories from Blockworld and the Litecoin Summit tomorrow!
Doc has started to do a frequent live “Trade School” video; watch for announcements and links in the “Premium Chat” room of our Discord site.
If you missed Mav’s webinar “Top Ten Ways to Create Passive Income With Crypto” then you can watch the webinar at this link.
We’ve started to produce episodes for The ReadySetCrypto Podcast; all of our episodes are posted on our blog (and on iTunes) and Episode Twelve is now available. Episode Twelve goes into the topic of “market manipulation.” Why it happens, when it happens, and how to protect yourself from it. Look for more episodes shortly as we comb the crypto space for valuable interviews, and create valuable content to keep you in the loop!
See you tomorrow!
Doc's Daily Commentary
Our Weekly Premium-Only Livestream
Our next scheduled Premium-Only Livestream is scheduled for 19 September 2018 at 8 PM EDT (UTC/GMT -4 hours). Watch below for new link. Doc has also been doing a daily “Trade School” video with links in the Premium Chat room of the Discord page.
Our Public Livestream
New to Cryptocurrencies? Check out our archived classes “Intro to Cryptocurrency Trading”, “How to Find Your Next Big Cryptocurrency: Intro to Fundamental Analysis,” Mav’s class on “Security and Wallets” and Doc’s classes, “Introduction to Technical Analysis” and “Short Term Trading Strategies” which are now all available for immediate purchase in our Store, and seconds away from viewing in the Premium Member’s Home. View more about them at our online store by CLICKING HERE.
Check out our BLOG for the latest videos, posts, and Podcasts! Click this link and bookmark the page!
If you go to buy any of our courses at our online “store” you can receive $10 off the street price with your member’s “coupon code” of member18crypto
Check out our new merch store! Simply go into the regular store and select “Merchandise” to pick up some RSC merch!
Offense – Adding Trades
Offensive Actions for the next trading day:
- Potential swing trades showing on ETP/BTC and ETH/USD; please view today’s video for setup information.
Defense – Managing Risk
Defensive Actions for the next trading day:
RSC Managed Crypto Fund
- ETH/USD 2% added 8/10/2018 @ $363.14
- ETH/USD 2% added 9/9/2018 @ $200.50 (10% more to add)
- LTC/USD 2% added 8/10/2018 @ $62.56. (6% more to add)
RSC Altcoin-Exclusive Crypto Fund
Technical Analysis Research
I wrote yesterday: “Watch ETH over the next couple of days; a hammer candlestick along with a descending pattern means that we could see an explosive pop higher as the selling dries up, if it does.” In today’s video I discuss what I’d like to see to take a swing trade on ETH/USD. We already entered another 2% at the $200 level so this would be a swing only, targeting the $260 level.
In August we introduced a new “fund” project that we’ll be creating over the next few months, in piecemeal form. I will be slowly and methodically creating a “fund” with (currently) 23 assets that we will do “live” or at least very plainly indicate where we intend to enter portions of assets. As long as the market continues grinding down in a bear, we will use sentiment-based entries to hopefully secure a better entry. All that I saw were bear flags tonight; we are close to some good entries on coins showing positive divergence on the RSI. Going forward into the end of this year my plan is to do a LOT more swing trading; what would really help is a decent derivatives exchange. I am looking for big things from Digitex in this regard, which will be a commission-free futures platform however all trades must be made in DGTX as the base currency. Put yourself on the waitlist for this platform by clicking here. I have started to acquire DGTX tokens at Mercatox in anticipation of them turning up their platform, and this looks to be a good candidate for a pump prior to the production event. Here are the recent swings that we’re tracking in the portfolio below; :
- DGB/BTC – long @ .00000608 (7/23). My target exit is .000008BTC.
- WTC/BTC – Long @ .00155980BTC (4/23). My target exit is at .002BTC.
- ADA/BTC – Long @ .00003931BTC (5/1) My target exit is at .00005BTC.
- ONT/BTC – long @ .0008905 (5/20) My target is .0013BTC.
Please keep in mind that if you want to follow these trades, I am using FIXED RISK POSITION SIZING. This means that I am using a fixed amount of risk capital that is based on my account size, like 2%. I am assuming that the trade will burn to the ground and that I will lose that entire capital position! Only in this manner can one effectively manage a position the way that you have to. If you’ve every checked your blockfolio nervously every 5 minutes when you’re underwater, this will prevent that. I will track these positions in this area and not in the main portfolio section. I will use a public portfolio tool to do so, which you can access by clicking below:
I hope you all got a chance to catch my webinar class from earlier this year; if not, the replay is available here. If you missed my earlier webinar, “More Profits in 2018; Ten Ways to Chart Like a Pro.” then you can catch the replay here. My new class “Introduction to Technical Analysis” is now available via our online store.
If you go to buy any of our courses at our online “store” you can receive $10 off the street price with your member’s “coupon code” of member18crypto..
Coinigy is a great tool for determining prices on each exchange, however I may not have access to the full suite of tools on TradingView charts. I am currently not using it as a front-end GUI for my exchanges, which it supports.I also use Blockfolio and/or Delta to give me a quick snapshot of my holdings, and find that it does an excellent job to aggregate all of my holdings into one easy-to-read snapshot of my cryptocurrencies, which are typically located in many different places.
I am also trialing the Profit Trailer and CryptoHopper trading apps which are working well in this choppy market.
Fundamental Currency Research
For flipping Good.
For long-term holding Neutral.
What is it?
What is our verdict?
What we like: Supernodes are very interesting. No trading commissions for users.
What we don’t like: There are many exchanges already on the market. Transaction mining isn’t currently solvent.
- Project name: Bgogo Exchange
- Token symbol: BGG
- Website: https://bgogo.com
- White paper: https://bgogo.com/assets/white-paper/BGG-Token-Whitepaper-v1.8EN.pdf
- Hard cap: 17,000 ETH (15,000 ETH during private sale and to supernodes, 2,000 ETH during public sale) for 10% of total tokens
- Conversion rate: Private sale: 1 ETH = 66,666 BGG; public sale: 1 ETH = 69,999.3 BGG.
- Maximum market cap at ICO on a fully diluted basis: $51 million based on current ETH price of $300
- Bonus structure: Whitelisted public sale participants have a 5% bonus over the private sale price, with no lockup period.
- Private sale: The private sale has already been completed with 10,500 ETH raised from 21 supernodes and 4,500 ETH from strategic investors.
- White list: Bgogo’s public sale will be a Genesis Mining event (exact date to be confirmed) that will start 24 hours before mining is officially opened to the public. Only whitelisted users can participate. Details on the Genesis Mining event can be found here: https://bgogo.com/announcement?link=mining.
- ERC20 token: Yes (will be switched to native tokens when the mainnet is launched)
- Countries excluded: TBA
- Timeline: TBA
- Token distribution date: TBA
2017- 2018Q2 Portfolio (Discontinued)
How to read this portfolio: Please click on the Chart Key tab above for definitions and color codes. The colors correspond to our 7 categories in the graphic below.