Don't Panic. Analysis of Zcash, Stellar Lumens, Litecoin and Dash | Hacked: Hacking Finance
user

Cryptocurrencies

Don’t Panic. Analysis of Zcash, Stellar Lumens, Litecoin and Dash

Posted on .

Don’t Panic. Analysis of Zcash, Stellar Lumens, Litecoin and Dash

Introduction

This article was posted on Saturday, 13:48, UTC.

We have been suggesting here and on twitter like a broken record that the ETH and XBT trades were hyper-extended and overdue to correct.  It looks like big money and/or hostile forces have taken advantage of the two corrections to force out weak hands from many altcoins.  These are the days when if you are not leveraged, you ought to play golf or take the kids to the park.  The current selling will end, so if you are not leveraged, and if you failed to sell the highs, it might be a good idea to just relax and take a break.  Markets will almost certainly rise again in a few days, like the phoenix.  No need to panic.

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

Zcash

ZEC is looking like a great trade.  Both short term and longer term charts have a bullish feel to them.

This 60 minute chart (bear setup) showed support was found at the 5th pair and the top of square, as shown above.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

This bull setup on a 144 minute chart shows pricetime exiting a 2nd pair.  Resistance at the top of square is ~ $360.  However, if this rally gets going, the 3rd and 5th pairs are MUCH higher.

For the astro-traders in the audience, today (5/27 -5/28) sees a myriad of different planetary alignments that suggest today is a day to watch.  For example, Mars has rotated 120 degrees (trine) since the start date of this coin, as of today.

Stellar Lumens

Stellar Lumen has bounced off the low pretty well, but there is reason to believe that the bounce will fail.  The 4th arc and 5th arc pairs may need to be touched before this correction will end.

Litecoin

LTC has found support, again, at a longer-term Gann angle.  If that angle fails, not expected but possible, the fall might be painful.  Traders might want to put a stop under that angle, if they have not done so already.

DASH

Dash has found support at a longer-term angle, but the short-term bear setup suggests that the arc pair supporting it is weak.  A re-test is likely.  My guess is that a test of the 3rd arc is likely in the cards. Traders might want to put a stop below that Gann angle, or below that arc, with a buy order ~ $100.

 

Remember:  The author is a trader who is subject to all manner of error in judgment.  Do your own research, and be prepared to take full responsibility for your own trades.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Jim Fredrickson

Jim Fredrickson

Jim has an MBA from the University of Southern California. He has had a long career in both Corporate Finance and IT. Along the way he discovered that trading was a vehicle with great promise, but struggled for a long time without a mentor. After having been knocked down many times and having struggled to get back up, he had an epiphany and realized that geometry was a solution. He shares his experience here. If you do well as a result of suggestions made here, feel free to say thank you :) BTC: 1FUq3GB1Q8zz2JpuBr7YHzVBKnaWoxgmya Follow him on Twitter (@jimfred1276) or email him at jimfred1276 at gmail.

Comments
  • user

    AUTHOR leveler

    Posted on 1:53 pm May 27, 2017.

    How about XRP?

  • user

    AUTHOR mikejeffery

    Posted on 1:53 pm May 27, 2017.

    Any ideas about Ripple, seems that XRP is one of the most struggling coin in the past few weeks.

  • user

    AUTHOR nifymedia

    Posted on 2:02 pm May 27, 2017.

    So according to the article, ZEC and STR is a buy now?

    • user

      AUTHOR Joshnj82

      Posted on 3:28 pm May 27, 2017.

      According the analysis ZEC looks profitable both short and long-term. XML (STR on Polinex exchange) recovered slightly but isn’t expected to recover from last session in full w/ the possibility of more losses in near future. That is the opinion of the analysis above.

  • user

    AUTHOR Gabriel

    Posted on 2:09 pm May 27, 2017.

    I failed to sell the highs, so I took my kids out for the weekend. Very relevant advice as always Jim 😉

  • user

    AUTHOR Falkor

    Posted on 2:49 pm May 27, 2017.

    How do you know it’s time to sell? Maybe next time I could avoid the the CryptoHammer!

  • user

    AUTHOR Jim Fredrickson

    Posted on 3:51 pm May 27, 2017.

    I wish I had more cash to buy ZEC, XMR, DASH, XRP. The landscape is littered with bargains.

    • user

      AUTHOR unitednoobies

      Posted on 6:31 pm May 27, 2017.

      Hi Jim,

      What about XLM and ETH. The correction seems like a good buy? If so, when should a buy order be placed, what should be the entry point?

      • user

        AUTHOR Jim Fredrickson

        Posted on 12:49 am May 28, 2017.

        In both cases it seems a bit too soon to say the correction is over (time-wise, particularly for eth). But if you are not buying leveraged, then you can certainly buy here and make money in the weeks ahead… I think…

  • user

    AUTHOR chorez

    Posted on 4:56 pm May 27, 2017.

    This Zcash graph you disply, seems like an old one? On poloniex it was trading for 120 at the low. Your graphs show a low of 150. Or is this the Kraken chart?

  • user

    AUTHOR Ritesh Sheth

    Posted on 9:41 am May 28, 2017.

    Hi Jim,
    I would like to invest in ETH, Dash,XMR, ZEC and XRP. What percentage would you recommend on each of them for short (1-2 years) and long-term investment. Please suggest. Or Do you want me to pick any 3 or all 5. Reply Would be highly appreciated. I need your opinion. As I know Investment is subject to Market risk. thanks a lot.

    • user

      AUTHOR Jim Fredrickson

      Posted on 10:06 am May 28, 2017.

      ETH, XRP and ZEC have each been singled out as instruments that corporate America intends to put to use. Each of them have a very bright future, imho.

  • user

    AUTHOR Ritesh Sheth

    Posted on 10:53 am May 28, 2017.

    Thanks a lot for your generous reply, appreciate it. I will equally distribute on all these three (ETH, XRP and ZEC).

  • user

    AUTHOR shyam_shankar

    Posted on 1:22 pm May 28, 2017.

    ZEC you are telling based on the technical chart analysis or Coin analysis JIM? I have heard that ZEC has no future those are only speculations?

  • user

    AUTHOR Stipperdestip

    Posted on 8:32 pm June 5, 2017.

    Hi Jim, what do you think will happen to Lumen before/ after June 27, 2017 (they are distributing up to 16 BILLION lumens to bitcoin holders or 16% of the initial lumens)?
    https://www.stellar.org/blog/bitcoin-claim-lumens-2/
    I look forward to receiving your view on this.
    Many thanks!

  • user

    AUTHOR Stipperdestip

    Posted on 7:00 am June 11, 2017.

    Hi Jim, I still look forward to receiving your reaction. Best, S.

  • View Comments (16) ...
    Navigation
    The team:
    Dmitriy Lavrov
    Analyst
    Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years of trading experience. He covers Forex, Commodities and Cryptocurrencies. He is among the top 10 most Read More
    Jonas Borchgrevink
    Founder
    Jonas Borchgrevink is the founder of Hacked.com and CryptoCoinsNews.com. He is a serial entrepreneur, trader and investor. He shares his own personal journey on Hacked.com. // -- Discuss and ask Read More
    Mate Csar
    Analyst
    Trader 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 Read More
    Mati Greenspan
    Analyst
    Senior Market Analyst at Etoro.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Important: Never invest Read More
    Rakesh Upadhyay
    Analyst
    Rakesh Upadhyay is a Technical Analyst and Portfolio Consultant for The Summit Group. He has more than a decade of experience as a private trader. His philosophy is to use Read More
    Pamela Meropiali
    Account Manager
    Pamela Meropiali is responsible for users on Hacked.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Read More
    Joseph Young
    Journalist
    Joseph Young is a finance and tech journalist & analyst based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering Read More
    Bitcoin in a Serious Correction Traders might have gotten used…