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Trade Recommendation: Basic Attention Token

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The Basic Attention Token/Bitcoin pair (BAT/BTC) sparked its bull run on December 20, 2018 when it breached 0.000023 resistance. The force of the breakout was so strong that it catapulted the pair to as high as 0.0000667 on January 9, 2018. In less than three weeks, the pair rose by 190%. Those who bought the breakout saw the opportunity to dump positions and take profits.

As sellers dominated the market, it plunged to 0.0000357 on January 16. Even though bottom pickers bought the dip, they were only able to push the price up to 0.00005975 on January 24. The lower high snuffed out the pair’s bullish steam. From that point, BAT/BTC has been generating lower highs and lower lows until recent events.

Technical analysis show that Basic Attention Token/Bitcoin appears to be respecting 0.000023 support. Volume surged on March 15 when the pair hovered above the 0.0000023 support. In addition, bulls rushed to defend the support when BAT/BTC dropped to 0.00002125 on March 18. So far, the market has managed to stay above the support level.

The strategy is to buy as close to 0.000023 as possible. If bulls continue to defend the support, the market will likely consolidate at this price before it can march to our target of 0.00004. The process may take more than a month.

Daily Chart of Basic Attention Token/Bitcoin on Binance

As of this writing, the Basic Attention Token/Bitcoin pair is trading at 0.000024 on Binance.

Summary of Strategy

Buy: As close to 0.000023 as possible.

Target: 0.00004

Stop:  0.000022

 

Disclaimer: The writer 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.

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3.6 stars on average, based on 201 rated postsKiril is a financial professional with 4+ 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.




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3 Comments

3 Comments

  1. hdmarketing

    April 23, 2018 at 11:49 pm

    Well done Kiril : reached target 4 weeks after your recommendation. I entered @2418, went 100%. Think I’m going to take some profit now.

    • Kiril Nikolaev

      April 24, 2018 at 12:10 am

      Awesome. Congrats! Do be careful with these trade recommendations. Always do personal due diligence before making a trade and don’t play with money you can’t afford to lose. But I’m glad this one worked out well for you though 🙂

  2. andrewmayne1

    April 25, 2018 at 3:23 am

    Successful trade, thanks. Only put 0.1ETH in lol.

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Trade Recommendation: TRON

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The TRON/US Dollar (TRX/USD) pair has been in a downtrend since it failed to take out resistance of $0.085 on May 6, 2018. This showed market participants that the pair was not yet ready to launch a major bull run. As a result, investors dumped positions to either cut their losses or preserve gains.

TRX/USD has been in a downtrend for over two months now. However, long-term investors shouldn’t lose sleep because a reversal appears to be in sight.

Technical analysis show that Tron/US Dollar is very likely to bottom out at support of $0.03. We have several reasons to support this view.

First, $0.03 is the market’s strongest support. Bulls have successfully defended this level since February 2018. More importantly, TRX/USD has always bounced whenever it hit the support. This is an area where demand exceeds supply.

Second, TRX/USD is creating a falling wedge pattern. At $0.03, the pair would be at the narrowest point of the wedge. By then, an explosion would be inevitable. We believe the explosion would have a bullish bias considering that demand is very likely to be high at $0.03.

Lastly, both the daily RSI and MACD are flashing bullish divergence signals. This indicates that the market is gaining strength.

The strategy is to buy as close to $0.03 as possible. If the market can stay above this level, bulls will likely inspire a rally to our initial target of $0.05. Take that out and the market has an easier path to $0.06.

The process may take more than a month.

Daily Chart of TRX/USD on Bitfinex

As of this writing, the TRX/USD pair is trading at $0.0356 on Bitfinex.

Summary of Strategy

Buy: As close to $0.03 as possible.

Target: $0.05 and then $0.06.

Stop: $0.0295

 

Disclaimer: The writer 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.

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3.6 stars on average, based on 201 rated postsKiril is a financial professional with 4+ 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.




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Trade Recommendation: ZRX

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The 0x/Bitcoin (ZRX/BTC) pair started another bull run on April 17, 2018 when it took out resistance of 0.0001. This triggered the rounding bottom pattern on the daily chart. The breakout pushed the pair to as high as 0.000219 on May 10. ZRX/BTC sharply corrected from that point. The good news is that it appears that the corrective period is over.

Technical analysis show that 0x/Bitcoin has taken out resistance of 0.000155. This activated the small cup and handle continuation pattern on the daily chart. The breakout was validated by heavy volume and a strong rally to 0.00018629 on July 15. In addition, technical indicators look healthy. The MACD and the RSI are not flashing any bearish signal.

Furthermore, ZRX/BTC looks bullish long-term. It appears to be in a very wide ascending channel. So far, the pair has respected both support and resistance levels.

Lastly, the pair seems to be respecting support of 0.000155. ZRX/BTC dropped to as low as 0.00014816 but bulls were quick to respond and reclaim the support.

The strategy is to buy the dip as close to 0.000155 as possible. If ZRX/BTC manages to stay above this level, bulls are likely to inspire a rally to our target of 0.00022.

The process may take less than a month.

Daily Chart of 0x/Bitcoin on Binance

As of this writing, the ZRX/BTC pair is trading at 0.00015585 on Binance.

Summary of Strategy

Buy: As close to 0.000155 as possible.

Target: 0.00022

Stop: 0.00015

 

Disclaimer: The writer 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.

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3.6 stars on average, based on 201 rated postsKiril is a financial professional with 4+ 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.




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Trade Recommendation: Decred

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The Decred/Bitcoin pair (DCR/BTC) launched its bull run on May 11, 2018 when it took out resistance of 0.01. This triggered the large inverse head and shoulders reversal pattern on the daily chart. The breakout pushed the pair to as high as 0.015 on June 14. DCR/BTC has been correcting since. However, this can be your chance to buy the breakout.

Technical analysis show that the uptrend of DCR/BTC is very much alive. We have several reasons that support this view.

First, the market plummeted to as low as 0.009 on July 13. This should have triggered many stop losses but the low volume during this pullback shows that investors have strong hands. Their faith in the market was so strong that the technical breach did not bother them. The market established a bullish higher low at 0.009 and rallied.

Second, the rally was accompanied by bullish signals from technical indicators. The daily RSI sharply bounced after registering oversold readings. Plus, the daily MACD reveals a bullish cross. Lastly, the 4-day, 8-day, and 21-day moving averages are attaching to the daily candle’s body while trending up.

The strategy is to buy the dip as close to 0.0095 as possible. If the market manages to stay above this level, bulls are likely to inspire a rally to our initial target of 0.014. Take that out and the market can achieve the target of the inverse head and shoulders at 0.016.

The process may take more than a month.

Daily Chart of Decred/Bitcoin on Bittrex

As of this writing, the DCR/BTC pair is trading at 0.0098 on Bittrex.

Summary of Strategy

Buy: As close to 0.0095 as possible.

Target: 0.014 first and then 0.016.

Stop: 0.009

 

Disclaimer: The writer 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:

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3.6 stars on average, based on 201 rated postsKiril is a financial professional with 4+ 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.




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