Analysis Market Update: Re-Test or Another Leg Lower? Published 12 months ago on February 5, 2018 By Mate Cser The major coins are plunging yet again today, as the panic lows of Friday are being tested by most of them with the dominant downtrend still being intact. Bitcoin already breached the Friday low, being down by 10% since yesterday, while all of the top 20 coins are sporting double-digit losses as well, with another wave of negative regulatory news weighing on the segment. Correlations are still very high in the segment, and only a few coins are showing notable positive divergences amid the sell-off, with Litecoin being the strongest, holding up well above the prior low. As the downtrend remains intact we still advise short-term traders to stay away from new positions or at least enter small trades, with volatility likely remaining elevated. BTC is still under selling pressure after last week’s rout, although volume patterns are less bearish and the long-term picture is now oversold, pointing to a failed break-down or a final bottom in the coming days. Long-term investors could still add to their positions here, as a durable rally is likely in the coming weeks. Support zones below the $7650 level are found between $6750 and $7000, at $6150, and near $5750, while primary resistance is ahead between $9000 and $9200. BTC/USD, 4-Hour Chart Analysis Altcoins Besides Litecoin, Dash and Ripple are still diverging somewhat positively from the rest of the market, trading above the Friday lows, while Stellar is also holding up well amid the sell-off. The late leaders of the preceding rally, Ethereum and NEO are right at the lows, and we still expect them to underperform the segment in the coming weeks and continue the correction longer than the already oversold coins. ETH/USD, 4-Hour Chart Analysis LTC is not just 30% over the crash-low, but it’s also trading north of the key $125 support/resistance level following the strong snapback rally. While the downtrend in the coin is clearly intact, Litecoin could set a higher low which could be the base of the next cycle. While a re-test of the low is still possible investors could add to their positions on the short-term sell-off, while aggressive traders could also look for entry points near $140 and $125. LTC/USD, 4-Hour Chart Analysis Stay tuned for our detailed technical analysis coming out later today. Featured image from Shutterstock Disclaimer: The analyst owns cryptocurrencies. He holds investment positions in the coins, but doesn’t engage in short-term or day-trading, nor does he hold short positions on any of the coins. 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. (18 votes, average: 4.89 out of 5)You need to be a registered member to rate this. Loading... Mate Cser 4.7 stars on average, based on 442 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. Follow @HackedCom Feedback or Requests? Related Topics:dashlitecoin Up Next Technical Analysis: Coins Hit New Lows amid China Crackdown and Stock Rout Don't Miss Cryptos Surrender Gains After Weekend Bounce; Ethereum Leads Decline You may like Crypto Update: Coins Retreat After Rally Attempt Crypto Update: Coins Hit New Lows But Bearish Momentum Weakens Trade Recommendation: Litecoin Crypto Update: Market Remains Under Pressure as Coins Fail to Recover Trade Recommendation: Litecoin Crypto Update: Coins Plunge as Short-Term Trendlines Fall Click to comment You must be logged in to post a comment Login Leave a Reply Cancel replyYou must be logged in to post a comment. Analysis Crypto Update: Zilliqa a Good Buy on Dips Published 4 hours ago on January 16, 2019 By Kiril Nikolaev, CFA Zilliqa (ZIL/BTC) has been on our radar ever since it revisited a price level of 0.0000039 on November 20, 2018. At that point, we were curious whether the market would respect its previous low or breach the support and print a new 2018 low. We got a little bit of both and that’s the stuff that makes crypto very exciting. While Zilliqa printed a new 2018 low of 0.00000347 on November 25, bulls managed to lift the market back above 0.0000039 on November 27 with heavy volume. This fakeout gave this coin a new lease in life and the market is not taking the opportunity for granted. In this article, we reveal why Zilliqa presents a good buy on dip opportunity. Solid Base at Parabolic Support Zilliqa bottoming out and accumulating around 0.0000039 is no coincidence. This is the level where the market rejected lower prices in March 2018. Zilliqa’s ability to stay above 0.0000039 back then sparked a parabolic run that saw the market climb as high as 0.00002508 on May 10. Thus, it is not surprising for the market to return to its low level and start a new market cycle. To build its base, Zilliqa spent 154 days range trading between 0.0000039 and 0.000006. That’s over five months dedicated to accumulation. We’ve seen many altcoins with significantly shorter accumulation periods launch massive bull runs. Daily chart of ZIL/BTC With a solid base in place, you can be fairly certain that market participants will buy the dips. Like you, they also likely know that the market spent a lot of time base-building. Therefore, they’ll take advantage of any opportunity to get in cheap before the market launches its bull run. Breakout from Consolidation After five months of base-building, the market appears ready to break out from a double bottom pattern. It made a strong push yesterday, January 15, 2019, to take out our range high of 0.000006. The move up was supported by above-average volume. So far today, the market has managed to stay above 0.000006. ZIL/BTC Double bottom breakout This price action tells us that Zilliqa is raring to launch a bull run. This type of bullish momentum is rare in crypto nowadays. With so many suffering from heavy losses in this bear market, a lot of people are eager to ride on markets that are showing bullish potential. As Zilliqa continues to show strength, participants will likely buy on dips in the hope of either growing their capital or recouping losses. Key Levels to Watch If you’re looking to place a long position in Zilliqa, we believe that one of these two scenarios can play out. The first scenario shows the market pumping in the next few days. The pump might send the market to as high as 0.00000685 where Zilliqa will likely face heavy resistance from bears. If bulls succumb, Zilliqa might retest 0.000006 before resuming its uptrend. ZIL/BTC Scenario 1 The other scenario involves an immediate throwback as Zilliqa succumbs to profit taking. We can see it retesting support of 0.00000575. If Zilliqa respects the support, the market would print a bullish higher low setup. This will likely send the market to greater heights. ZIL/BTC Scenario 2 Bottom Line With an extensive base and a recent breakout from consolidation, Zilliqa is a good buy on dips. It appears that the market now belongs to a small group of alts that show bullish potential. This makes Zilliqa attractive to investors who are looking to grow their capital or recoup their losses. 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 votes, average: 5.00 out of 5)You need to be a registered member to rate this. Loading... Kiril Nikolaev, CFA 3.8 stars on average, based on 308 rated postsKiril is a CFA Charterholder and financial professional with 5+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances. Follow @HackedCom Feedback or Requests? Continue Reading Analysis AMD: Time to Find the Bottom Published 6 hours ago on January 16, 2019 By Dmitriy Gurkovskiy By Dmitriy Gurkovsky, Chief Analyst at RoboMarkets With the crypto hype nearly over, it’s time to see what’s happening with graphic board manufacturers. When demand boomed, their earnings burst, and so did the stock prices. Currently, however, the demand is down, and this is clearly seen in the earnings reports. While previously the earnings reached rather high numbers, they are bound to start shrinking now. What is important here is whether the management at such companies used the large capital inflows to take the companies’ performance to the next level. Today, we’ll take a closer look at Advanced Micro Devices, known as AMD. We could also consider Nvidia (NASDAQ: NVDA), but its stock is seven times more expensive than AMD’s, which means it is much less available to the retail investors. AMD earnings had risen by 2,200% when the crypto boom was at large, while Nvidia added 1,500% to its value. At the same time, when AMD shares were at the low, they cost around $1.50, which was quite alright for retail traders, while Nvidia shares were 15 times higher. Advanced Micro Devices (NASDAQ: AMD) is a major GPU and chip set manufacturer. The company hasn’t had any production facilities of its own since 2009, and uses other companies’ facilities. Among AMD’s partners, one may mention Acer, Cisco, Dell, Ericsson, Fujitsu, HP, IBM, NEC, Nokia, Siemens, and Sony. The major competition of AMD is Nvidia. In 2010, AMD was better than Nvidia, when its market share amounted to 51%. It was actually in 2010 when the first Bitcoin transaction was made. This was the jump start for the cryptos and, eventually, for mining devices. By 2018, the crypto market cap reached its high at $840B, followed by the fall that has so far reached $119B. This caused a high demand for used GPUs, while the demand for new devices fell; this eventually led to the falling AMD sales. Investors booked their profits, and AMD shares fell, too. The earnings will continue going down, and the company will have to distract the investors from this. The forecast for earnings in the coming quarter is not positive either, which means the stock has not reached its bottom yet. AMD: What Happened Recently In October, the Q3 report came in, with both the earnings and the ROI rising YoY. The operational profit went up to $150M, while the net profit rose by 70% to reach $102B. However, even with the earnings rising (mostly due to the CPU sales), the stock went down by 22% just because GPU sales shrank. When this happened, Deutsche Bank, Mizuho, and Morgan Stanley cut their forecasts regarding AMD share price. In November, AMD partnered with Amazon to supply Epic CPUs for Amazon data centers. This pushed the price by 9% in the short term. Another price spike happened in December, when the 90-day ‘cease-fire’ was achieved in Sino-US trade wars; this was perceived as positive news for tech companies, and, in particular, pushed the AMD price by 7.50% upwards. After that, the rise was over, and the shares were falling for 20 days in a row. The last hope was the Radeon IIV GPU release, which was presented at the CES expo on January 9, 2019. The stock started to recover but then went down abruptly. This whipsaw may continue for long. What one may do is pay attention to the next quarter forecasts and do the tech analysis, while also watching the current and past events. As such, some figures may show AMD’s strong points. Thus, the equity ROI is 28.44%, with the overall industry number being at 11.84%; the profit margin is 5.05% versus 2.06%. On Dec 20, 2018, AMD was added into NASDAQ 100. Every year, the amount of data to process is increasing, while making the CPUs and GPUs smaller gets more and more difficult. This is likely to increase the demand, and, subsequently, increase AMD earnings, too. On the dark side, AMD is not currently paying any dividends, while the P/E is 49.50 versus the 14.85 industry average, which means the company is well overpriced. The forecasts for the next quarter earnings are negative, which may put the AMD shares under pressure, too. Thus, AMD shares may shrink in the short term, but in the longer term, they look quite attractive for investment. In order to understand where the price is going to ‘take off’, one should use tech analysis. On W1, the price is above the 200-day SMA, which means there is an ascending trend. Fundamentally, however, the price may get lower, perhaps finding its support at the 200-day SMA. The secondary support levels are at $10 and $15. $15, the nearest one, is very likely to get broken down, as it is quite far from the SMA. If the sellers get more active, the price may head further lower to reach and even break out $10. However, the odds are that the breakout will not continue for long, and a recovery will follow immediately. Thus, $10 may be considered a good level for taking long positions. On D1, $22 is a currently strong level. In case it does not get broken out soon, it may become then a starting point for the price to start heading towards $10. Disclaimer Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboMarkets shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein. 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 5)You need to be a registered member to rate this. Loading... Dmitriy Gurkovskiy 4.6 stars on average, based on 23 rated postsHaving majored in both Social Psychology and Economics, I went on to continue my education in post graduate. Later I worked as a team lead of a tech and fundamental analysis lab in the Applied System Analysis Research Institute. This helped me to acquire all necessary skills and experience to become a successful trader and analyst, as well as a portfolio manager in an investment company. I'm a pro in the financial field and the author of articles for various international media. I also hold the position of Chief Analyst at RoboMarkets. Follow @HackedCom Feedback or Requests? Continue Reading Altcoins Binance Coin Price Analysis: Binance Completes 6th Token Burn; BNB/USDT Struggling to Move Back Above Breached Channel Published 9 hours ago on January 16, 2019 By Ken Chigbo Binace has completed their sixth round of BNB token burning, a total of around 1.6 million. BNB/USDT bulls are retesting a breached ascending channel formation. BNB/USDT is holding steady for now, with a gains of 4% on Wednesday. Caution can be observed following a breakout to the downside from a rising channel formation. The price had been moving within this structure from around 15th December, when the bulls commenced the most recent upside trend. BNB/USDT had gained as much as 51%, while within the confinements of this. However, all good bull runs must come to an end, and on 10th January the lower supporting trend line gave way to the market bears. BNB/USDT daily chart. In terms of price behavior since the break, as detailed earlier, there is a lack of commitment seen. The bulls have stringently retested and been moving underneath the channel but have not got the momentum to break back above at this time. Binance Complete 6th BNB Token Burn The world’s largest cryptocurrency exchange by traded volume, Binance, announced they have completed their sixth token burn. Binance burnt a reported total of 1,623,818 BNB tokens. This detailed burn was for the period between October 1 and December 31, 2018. For comparative purposes, the number is similar to the 1,643,986 BNB amount that they previously burned in their fifth round. Despite the similar number of BNB being burnt, it is worth considering that the final quarter of 2018 had “brought significant changes in the cryptocurrency landscape”. In monetary terms, the dollar value during the sixth BNB burn was around $9.4 million, versus the $17 million during the previous period. CZ, founder and CEO of Binance, said, “I’m excited about is Binance Chain and Binance DEX, which will launch soon. From a tech standpoint, it is a major development for the Binance ecosystem. From an earnings standpoint, Binance DEX will not directly increase profitability for Binance, but it will certainly increase the utility of BNB in a big way. That should be good for BNB holders. Binance is also a larger holder of BNB, so we benefit the same way as all BNB holders. The more people using Binance Chain, the more value is created, or the more successful we all become.” Technical Review – BNB/USDT BNB/USDT must break back above the $6.40 area to attract another wave of buying. This is where the lower supporting trend line of the breached channel in tracking. Separately, a supply zone is seen in proximity, tracking from $6.20-$6.90. The price has not been above this region since 19th November. Should the bulls gather enough momentum to break above this supply, then a fast move could be seen back to $10.00. BNB/USDT had been consolidating here prior to the steep fall in November. Looking to the downside, there isn’t much in the way of major support seen until the $4.00 price region. This is where the December low can be seen, $4.12, with a demand zone observed running from $4.55-$4.12. 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 5)You need to be a registered member to rate this. Loading... Ken Chigbo 4.6 stars on average, based on 107 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. Follow @HackedCom Feedback or Requests? Continue Reading Top 3 Price Prediction Bitcoin, Ripple, Ethereum:... U.S. Stocks Tumble on Weak China Data; Cryptocurre... ETH/USD Price Analysis: Ethereum’s “Thirdening” Ap... Crypto Update: Zilliqa a Good Buy on Dips Augur Jumps 38% Overnight as REP/BTC Explodes on B... Crypto Market Falls in Installments; Bitcoin and X... Futures Update: Deeper Correction Looms for S&... Recent Posts U.S. Stocks Rise on Solid Bank Earnings; Cryptocurrencies Look for a Catalyst January 16, 2019 What is an Initial Exchange Offering (IEO)? January 16, 2019 Bitcoin’s Year of Accumulation January 16, 2019 Crypto Update: Zilliqa a Good Buy on Dips January 16, 2019 STEEM Coin on the Move While Steemit Loses 20 Million Visitors in Six Months January 16, 2019 AMD: Time to Find the Bottom January 16, 2019 Bitcoin Maintains Narrow Trading Range as Recovery Faces More Resistance January 16, 2019 Perpetual Tron (TRX) Trading Goes Live on OKEx… With a Warning! January 16, 2019 Trade Recommendation: ETHLend January 16, 2019 Bitcoin in Backwardation (this is fine) January 16, 2019 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 Altcoins1 week ago Will Ethereum Continue Rally Ahead Of Constantinople Hard Fork? Ethereum1 week ago Price Prediction: Ethereum Relaxes on Its Journey to Constantinople Cryptocurrencies1 week ago 2018 Crypto Crash: Here’s What Actually Caused It Blockchain1 week ago Your Guide to Precious Metals on the Blockchain Altcoins1 week ago XRP Price Analysis: XRP/USD Explosive Breakout a Matter of Days? Ethereum6 days ago After Doubling in Price, Ethereum Faces Inevitable Correction Ahead of Big Upgrade Altcoins5 days ago Monero Price Analysis: XMR/USD Smashed Through Critical Support, as Mining Malware Gains Almost 5% of Total Supply Altcoins1 week ago Holochain (HOT) Price Spikes Another 31%; Is Holo Fuel Driving Recent Growth?