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Trade Recommendation: Bitcoin

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The support zone 1 still holds the market. If the price bounces from it, we should be ready to catch a new upward movement. The safe entry can be done based on a breakout above the downtrend line and the previous swing high. We can place pending orders for buy at 15300.00 level with stop orders below the previous swing low at 11500.00 level. The main profit target is 20000.00 level. As for long term trading, the profit can be fixed at 25000.00 level. Alternative variant: if the price breaks the 1st support zone, new trading opportunities should be at 10000.00 level. If you don’t use leverage, trading volume for this trade is up to 20% from your deposit.

Market: BTCUSDT
Buy: 15300.00
Stop: 11500.00
Profit Targets: 20000.00 and 25000.00

The trading signal is based on Poloniex chart.
Disclaimer: The analyst are some invested in Bitcoin.

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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3.3 stars on average, based on 44 rated postsDmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.




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7 Comments

7 Comments

  1. Haspel

    December 30, 2017 at 11:55 pm

    Bitcoin is at 13k and your recommendation is to buy at 15.3k. Ok…

    • fgranna

      December 30, 2017 at 11:55 pm

      It’s about to be sure that the trend is broken dude

  2. grignacarbo

    December 31, 2017 at 8:24 am

    I did not understand one thing, if I buy the bitcoin now (around 13000) I make a mistake? do I necessarily have to wait for it to go up to around 15,3k to buy?

    • ggonzaga

      December 31, 2017 at 4:07 pm

      Well, the stop order is at ~$11k, meaning when it hits 11k and starts going back up, 15.3k would be a value that would confirm the uptrend. 13k I guess does not confirm it, meaning it would be a higher risk trade.

      • CryptoNash

        January 1, 2018 at 7:17 pm

        it may never go to 11K. the recommendation is to wait for now until bitcoin reaches 15.3 confirming upwards trend, then buy at 15.3. if after that things go south and it goes down all the way to 11K, then sell at 11K per stop order to prevent excessive loss. just fyi, I went in on a similar trade recommendation for Zcash, and it did dip below the stop price momentarily, and then rebounded way above the profit target. I had sold out once it hit the stop order….and missed the huge rebound. If I had been willing to stay in a little below the stop I would have got the gains. so for me it is subjective whether you want to make your personal stop slightly lower than the recommended stop. Also it may be your personal judgement on how to handle the suggested profit target. In similar circumstance XLM actually doubled the highest profit target over time based on fundamentals. I sold out at the profit target but later bought back in at a higher price due to upwards long term trend and fundamentals. the buy back has still reaped further profits. Although that is falling into the realm of investing rather than trading. good luck .

  3. Perkunas

    December 31, 2017 at 9:03 pm

    He means that if the btc goes to 15k it CONFIRMS the trend. At 13k its not certain. Its technical analysis dude.

  4. amg893

    January 3, 2018 at 10:35 am

    Anyone care to share any thoughts on bitcoins recent rally?

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Trade Recommendation: Bitcoin Gold

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Bitcoin Gold is looking barely a little shinier today. There is a Minor Pivot Stack formed that shows a good risk reward ratio setup.

Worth a serious consideration for a pop to the upside before the Monthly Pivot Range low, which will be major resistance.

You will want to pocket some profits at the first profit target of 18.30, and bail out of the balance of the position at 20.480.

Enter long on strength if the price exceeds yesterday’s high of 13.100. If triggered then place the stop loss below the Pivot Stack low at 10.850

If the trade signal is not triggered within 72 hours, cancel the order.

Entry Price: 13.100
Stop Loss: 10.850
Profit Targets: First profit target 18.30. Second profit target 20.480 . Once price reaches first profit target bring stop loss to breakeven (entry point).

Disclaimer: The writer owns Litecoin, 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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3.7 stars on average, based on 78 rated postsI am the founder of VirtuesTrading.com, where traders can learn to use my Virtues Trading System. Formerly a Commodity Trading Advisor, I got my start in the Energy and Precious Metals Options & Futures pits of the New York Mercantile Exchange. I operate on the premise of efficient markets, the management of risk through the analyzation of price action and technical indicators. I have a BA in International Relations from the University of Southern California.




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Trade Recommendation: Salt

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Salt (SALT/BTC) printed a fresh yearly low of 0.000051 on November 26, 2018. At that price, the market was down by more than 95% from the 2018 peak of 0.001244. If you’re a bottom picker, finding assets that have been brutally battered should excite you. However, not all altcoins that have lost over 90% of their value will recover. Some will likely cease to exist.

Nevertheless, there are gems worth buying even under extreme bearish conditions. They may not be able to immediately reverse their trend, but they can provide opportunities to grow your BTC balance. We believe Salt is one of those gems.

Technical analysis shows that SALT/BTC is working hard to establish a short-term bottom at 0.0000552. This area is a strong weekly support. In July 2018, Salt dropped to this area but lower prices were quickly rejected. Markets tend to remember this type of price action. The swift rejection in July showed that bulls are ready to defend 0.0000552.

So far, this assumption is proven to be correct. Even though Salt dropped to 0.000051, bulls quickly recovered the support and closed the week of November 25 above 0.0000552. The market has stayed above that level since. This tells us that participants are likely accumulating at the range low. If this is true, this altcoin will eventually generate the momentum to rally to our range high.

The strategy is to buy as close to 0.000055 as possible. If bulls continue to defend the support, this crypto will likely have the legs to bounce to our initial target, which is the range midpoint of 0.000083. Take that out and the next target is 0.00011.

The process may take more than a month.

12-Hour Chart of Salt/Bitcoin on Binance

As of this writing, the Salt/Bitcoin pair is trading at 0.0000582 on Binance.

Summary of Strategy

Buy: As close to 0.000055 as possible.

Targets: 0.000083 and 0.00011.

Stop: 0.0000535

 

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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3.8 stars on average, based on 288 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.




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Trade Recommendation: Republic Protocol

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We’ve been keeping a close eye on Republic Protocol (REN/BTC) since the second week of December when it showed bullish potential. It came off lows of 0.00000551 on December 7, 2018 and climbed as high as 0.00000838 on December 9. That’s an increase of over 52% in two days.

Quick rises like this usually have an effect on one’s psyche. The fear of missing out can easily draw a trader into buying the top. When you start to have this feeling, always remember that everything is subject to the laws of gravity. So instead of buying the pump, wait for the asset to dump. That’s where you can place buy orders.

REN is giving us this opportunity today.

Technical analysis shows that REN/BTC has broken out of a falling wedge on the 1-hour chart. Interestingly, the breakout was sparked by a strong bounce from support of 0.00000551. This tells us that bulls are trying to establish a bottom at this level.

The bounce, however, was met by the 100 MA, which was acting as a stiff resistance. REN has been pulling back since but this shouldn’t be a cause for concern. What we want to see happen is for REN to enter an accumulation phase near 0.00000551. If the market establishes a new base in this area, it will likely ignite another bull run.

The strategy is to buy as close to 0.00000551 as possible. As long as REN stays above this level, bulls have the momentum to rally to our initial target of 0.00000660. Take that out and the next target is 0.00000694.

The process may take less than a month.

1-Hour Chart of Republic Protocol/Bitcoin on Binance

As of this writing, the Republic Protocol/Bitcoin pair is trading at 0.00000562 on Binance.

Summary of Strategy

Buy: As close to 0.00000551 as possible.

Targets: 0.0000066 and 0.00000694.

Stop: 0.0000054

 

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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3.8 stars on average, based on 288 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.




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