Connect with us

Cryptocurrencies

Bitshares Trade Recommendation July 4th

Published

on

Bitshares/Bitcoin: Long-Term Buy

Bitshares/Bitcoin, Daily Chart Analysis

We have been monitoring the correction in the coin for the past three weeks, and now Bitshares is on the verge of breaking the declining trendline that has been dominating the move. The currency is one of the first smaller coins to show strength since last week’s move and we expect at least a break-out above 0.00010 and test of the 0.00012 level (where we would reduce the initial position) in the coming period, with a possible move to 0.00014 and a test of the highs below 0.00018. The MACD seems to be forming a bottom near the 0 level, pointing to a resumption of the advancing trend. Stop losses could be set slightly below the 0.00008 level compared to Bitcoin.

We advise relatively small positions in the coin given the volatility in the smaller coins, and the wide stop-loss, with the still correction ETH and BTC also creating a risk of a more consolidation. That said the risk reward ratio looks attractive and long-term investors should add to their positions if the coin re-tests the 0.00008 level (which coincides with the 61.2% Fibonacci retracement of the recent move) in the coming days. The coin could be a good buying opportunity compared to the USD, where we expect an initial rally above the $0.30 level.

Featured image from Wikimedia Commons

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.7 stars on average, based on 411 rated postsTrader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.




Feedback or Requests?

13 Comments

13 Comments

  1. idm2000

    July 4, 2017 at 12:20 pm

    where to buy bitshare??
    i use coinbase and have some eth and ltc

    • Chris G

      July 4, 2017 at 2:37 pm

      poloniex.com – but be careful transferring cryptocurrencies between poloniex and coinbase, there have been issues with coinbase shutting down accounts that receive cryptocurrencies from coinbase.

    • ajhofer

      July 5, 2017 at 5:55 am

      I’ve bought some BTS on Bittrex.

  2. Chris G

    July 4, 2017 at 2:41 pm

    issues with coinbase shutting down accounts receiving cryptocurrencies from poloniex that is

  3. idm2000

    July 4, 2017 at 8:50 pm

    Thank you Chris
    but the poloniex can’t be used in NY since 2015..T.T
    NEW YORK RESIDENTS MUST CLOSE THEIR ACCOUNTS
    As of 8/8/2015 and in accordance with the New York State Department of Financial Services, Poloniex is no longer allowed to provide services to residents of the State of New York.

  4. Chris G

    July 5, 2017 at 12:41 am

    wow, sorry to hear that … let me think for a moment, there has to be an exchange you can use.

    As an aside, it appears that bitshare is having some networking issues today. Trading has been down on poloniex since early afternoon. Hopefully things improve once they get it all back online and updated.

  5. Chris G

    July 5, 2017 at 12:42 am

    wow, sorry to hear that … let me think for a moment, there has to be an exchange you can use. As an aside, it appears that bitshare is having some networking issues today. Trading has been down on poloniex since early afternoon. Hopefully things improve once they get it all back online and updated.

  6. CryptoKid

    July 7, 2017 at 3:59 pm

    If you bought on this buy recommendation on the Fourth of July and still hold your suffering a 25% loss if you set your stop loss on this recommendation you suffered a 20%.

    • Mate Cser

      July 7, 2017 at 5:05 pm

      Hello Cryptokid, yes this was a losing trade. We warned to take a small position in this one, a volatile smaller coin. The upside potential was worth the risk IMHO.

      • CryptoKid

        July 7, 2017 at 5:15 pm

        There wasn’t news or rumour to push this out of its downward channel

        • Mate Cser

          July 7, 2017 at 5:55 pm

          You are right, the recommendation was based on technical strength and the long-term prospects of the coin, and it didn’t work out. As a trader, I see great potential in Bitshares (I still hold the coin despite the decline and I plan to buy more), and I believe the concept makes a lot of sense, and it could reform retail trading. That said, we had and will have losing trades in the future.

  7. Chris G

    July 10, 2017 at 11:01 pm

    First time I’ve dipped my toes into smaller cryptocurrency and I was expecting a loss, so took a small position. Did well in the larger cryptos this month, so figured why not – lost 20% on the stop-loss and just rolled the remainder over into Dash. I feel fine about taking that risk …

  8. Tarik

    July 14, 2017 at 10:18 am

    Despite the losses reported above, It looks like a good moment to join BTS now.

You must be logged in to post a comment Login

Leave a Reply

Altcoins

XRP Price Analysis: XRP/USD Behavior Suggests of One More Deep Pullback

Published

on

  • XRP/USD price action is moving within a range-block, subject to an extended move lower.
  • American Express are singing praises above the speed of Ripple’s technology.

XRP/USD price has stabilized, after the renewed chunky wave of selling pressure that hit the market. The price last week was forced to drop a whopping 30%. This came following a period of consolidation, which commenced on 25th November. XRP had managed to gain some firmer footing, after the brutal November selling. However, from a technical observation, the price entered into a range-block, which was subject to an extended move lower. Over the past three days, similar behaviors are noted, which expresses vulnerabilities.

American Express Praises the Speed of Ripple’s Technology

Back in November 2017, news hit the wires of a partnership between American Express, Ripple, and Santander Bank. Earlier this year, an official confirmation of partnership between Ripple and American Express was announced. This includes Santander Bank, and promises a solution which will offer fast speed and lower cost cross-border transactions. American Express had detailed using Ripple’s xCurrent technology to facilitate payments.

The general manager of American Express’ corporate payments, Carlos Carreido, was recently speaking at a conference called the Wings of Change Europe, which was held in Madrid. He detailed the incredible capabilities with the use of Ripple’s blockchain technology. As a result, the performance making a large difference for them, in payment processing globally.

Carlos Carreido said, “Blockchain is absolutely an option we’re looking at. Just to give you a sense, we have invested in a fintech lab, based on blockchain technology, just to understand how to leverage this better. We did a pilot. We did a test, partnering with Santander locally, and with Ripple to just do cross-border transactions. Cross-border transactions continue to be complex and slow. And in a matter of seconds, through this test, our clients were able to transfer funds in a very transparent and seamless way, from one part of the world to the other one.”

Technical Analysis: XRP/USD

XRP/USD 4-hour chart

Since the 7th December, XRP/USD has once again found firmer footing. The price managed to bounce most recently within the $0.29 territory. Danger to the downside is still very much at large. Similar behaviors that were seen between 25th November to 5th December, are being observed. This was a period of consolidation ahead of another deep fall. XRP/USD is moving within a range-block. The upper part of this seen at $0.3300, and current downside capped around the $0.2950 area.

Downside Targets

XRP/USD daily chart

Keeping the above in mind, XRP/USD could be set for another drop lower. This would fall in line with the previous article via Hacked. One more deep move lower, before the big bull buying comes into play. The price is already in proximity to this demand area but could be forced further towards the $0.2500-$0.2000 range. As previously mentioned, historically this is the area that sees bulls come in by quite some force.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
2 votes, average: 4.50 out of 52 votes, average: 4.50 out of 52 votes, average: 4.50 out of 52 votes, average: 4.50 out of 52 votes, average: 4.50 out of 5 (2 votes, average: 4.50 out of 5)
You need to be a registered member to rate this.
Loading...

4.5 stars on average, based on 77 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




Feedback or Requests?

Continue Reading

Cryptocurrencies

TRON Update: New DEX, Accepted Proposal, and Justin Sun Helps Granny Buy TRX

Published

on

TRON (TRX) saw little to no positive price movement leading into Monday morning, instead it gave up around 1.5% of its value as trade volumes fell 45% since the weekend.

More activity was to be found on the ever-active Twitter feed of TRON CEO and founder, Justin Sun, as he detailed plans for an upcoming improvement to the TRON blockchain, the imminent release of a new TRX-based decentralized exchange, and his own recent efforts to help a grandmother buy TRX.

TRON DEX Set to Launch

Sun took to Twitter this morning to announce the upcoming launch of a decentralized exchange built on and around TRX. The DEX is expected to go live in the next forty-eight hours, and will be the second TRON-based DEX in almost as many months. As per Sun’s announcement:

“TRX.market  and Tronscan.org will jointly launch a new #TRX dex trading platform with powerful engine in 48 hours. New dex supports TRC 10 and 20 together! Looking forward to seeing it!”

TRC-10 is the native token standard on the TRON blockchain, while TRC-20 is the standard used for smart contracts on the TRON Virtual Machine, and is fully compatible with Ethereum’s own ERC-20.

Update Proposal & Justin Sun Gets Gran Into Crypto

Sun sent out the following tweet on Friday, detailing a new update proposal which he submitted personally:

“I have created Proposal 7 to increase our energy limit and support #TRON developers. This proposal allows them to have lower fee and cost with better experience! Plz vote for Proposal 7!”

By Monday morning, the TRON community had voted on the proposal, and decided that it would be implemented soon. According to Sun, Proposal 7 will help reduce fees, increase the network’s energy limit, and increase DApp use by over 500%.

Meanwhile, Sun also detailed his recent, hands-on efforts to spread cryptocurrency use among the elderly, stating:

“I just taught a grandma how to buy #BTC and #TRX. Took me forever. We definitely need a grandma friendly way to buy crypto! #TRON $TRX.”

It is unknown whether the grandma was Sun’s own, or merely a stray. More on that story as it develops.

Where’s TRON at?

TRON’s current position as the tenth largest coin by market cap may be ahead of founder Justin Sun’s 2019 prediction for the same ranking, however a quick glance at the coin in ninth place (Litecoin) shows a growing discrepancy between the two.

Litecoin’s valuation in the $1.4 billion range is not far from double that of TRON’s current $0.8 billion, and the gap between the majors and the minors appears to be growing larger by the day.

Is TRON a major altcoin? Well, its supremacy in Google Trend searches compared to Ethereum would suggest so, as would its dominance over competitors as far as website clicks go – as displayed in Justin Sun’s recent tweet which compared Tronscan.org with Stellar.org.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.5 stars on average, based on 102 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




Feedback or Requests?

Continue Reading

Altcoins

EOS Price Recovers 22% From Recent Lows; EOS/USDT Trades Dominate

Published

on

EOS (EOS) turned the tide on recent losses on Sunday, and gained 22.8% on its value amid a generally green day for the crypto market.

EOS had fallen to a series of new yearly lows in previous weeks, falling as low as $1.56 on Friday, Dec 7th – a thirteen month low. That was the trigger for USDT traders to jump back in, and the surge in the two days since then carried the coin to 34% gains.

EOS Price – USDT Trades Dominate

Over 46% of EOS trades came against USDT on Sunday, perhaps highlighting a readiness to exploit EOS’s current lows in the short-term game.

From Sunday morning’s starting price of $1.71, EOS climbed 22.8% in value throughout the day, peaking at $2.14 by the evening. The surge was made while the overall trade volume for the broader market was in decline – a good sign in a bull market, but an ominous one in more bearish times.

That puts EOS on 34.6% gains over the weekend, although a fallback to the $2.05 range by time of writing, and a sudden downturn by the general market, suggests the volatility for the coin is not over yet.

Average trade volumes for EOS have been much higher in November and December than they were in the August-October period – a trend which has been seen generally across the board. Whether that represents new money coming in, or simply increased activity by desperate hands, is up for debate.

EOS News

EOS was one of the top performers on Sunday, and despite being picked up for bargain prices, it may also be feeling the boon of recent noises coming out of Coinbase.

The exchange announced on Friday that EOS would be one of thirty-one coins and tokens up for consideration for a listing on the platform – a number that was chiselled down to twenty-seven following the listings of the four ERC-20 tokens, Loom Network (LOOM), Civic (CVC), districtOx (DNT) and Decentraland (MANA).

The weekend’s move bucks the trend for a coin which had its investors’ confidence shaken at the start of the month. CTO of the EOS project, Dan Larimer, triggered a round of confusion among coin holders when he announced plans to embark upon a new blockchain project – one which was feared would draw time and resources away from EOS.

The loss of value for the reigning king of the ICO was so out of sync with the rest of the market that at one point there was a 55% price swing between EOS, and one of the other blockchains aiming to become the ‘Ethereum killer’, TRON (TRX).

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
1 vote, average: 4.00 out of 51 vote, average: 4.00 out of 51 vote, average: 4.00 out of 51 vote, average: 4.00 out of 51 vote, average: 4.00 out of 5 (1 votes, average: 4.00 out of 5)
You need to be a registered member to rate this.
Loading...

4.5 stars on average, based on 102 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




Feedback or Requests?

Continue Reading

Recent Posts

A part of CCN

Hacked.com is Neutral and Unbiased

Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

Trending