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Trade Recommendation: Bitcoin

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This is a long term trade. The price bounces from the support zone formed by SMA100, 10000.00 support level and the uptrend line. RSI confirms price reversal. MACD histogram is going to support a new upward movement. Entry level is at 12150.00 with stop orders below the local swing low at 8850.00 level. Profit targets are 17000.00 and 20000.00 resistance levels. The part of trade volume should be left for long run. If you don’t use leverage, trading volume for this trade is up to 15% from your deposit.

Market: BTCUSDT
Buy: 12150.00
Stop: 8850.00
Profit Targets: 17000.00 and 20000.00

The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments 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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5 Comments

5 Comments

  1. Namkyue Kang

    January 19, 2018 at 3:35 pm

    Isn’t Bitcoin heading for $7,650?

    • MinerMatt17

      January 19, 2018 at 3:38 pm

      They never get their story’s straight. 4 bitcoin buy recommendations during in the last two weeks while also analysis said it was going to correct down. Zero consistency of message.

  2. Cryptopath

    January 19, 2018 at 3:44 pm

    It’s the fourth time you come with the same recommendation, the three other times it completely failed. This time the recommendation comes at 180° against the technical analysis of this sale website. Can you please at least be consistent between the analysis and the recommandation. I definitely don’t believe the market is uptrend, why would you persist in the same recommendation going against the market? I completely lost faith in your recommandations and will close the page as soon as I see your name.

    • Cryptopath

      January 19, 2018 at 3:48 pm

      I mean, my conclusion Coles after having followed several of your recommendations for a success rate of maybe 20%. I lost a lot of money listening to you.
      And for this bitcoin recommendation, it’s like you are unable to admit you were wrong on the first place. You just persist thinking that somehow it will have an impact on bitcoin’s price. And it’s not the first time it happens actually.

  3. khaddafi

    January 19, 2018 at 7:56 pm

    ive started following most recommendations of Dimitry when i was new here. most of his recommendations were 3 weeks old and i’ve made good profits thanks to him. But lately a lot of losses. I don’t blame him for that because the market is just unstable. But when we have a stable period with btc waving sideways, his recommendations are the most accurate. For the last month none gets close to its targets

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Trade Recommendation: 0x (ZRX)

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0x (ZRX/USD) has been on our radar since it breached support of $0.455 on November 19, 2018. At that point, we were interested in seeing whether 0x would recover the support. Bulls attempted to reclaim that price level twice but they were sent back on both occasions. As a result, this coin stumbled as it struggled to find its footing. After all, the market had no known support below $0.455 on Bitfinex.

The good news is that 0x is showing bullish signals. These signals tell us that the market is ripe for bottom picking.

Technical analysis shows that ZRX/USD is likely to carve a bottom at $0.22. This view came after the altcoin printed a yearly low of $0.2199 on February 6, 2019. The market immediately bounced after touching this level. Although it is very possible for ZRX to print a new low, the formation of a falling wedge on the daily chart makes us think otherwise. The wedge has been forming for over two months and its apex appears to be at $0.22.

Also, it is important to note that 0x is generating a large bullish divergence on the daily chart. This indicates that the market is slowly gathering bullish steam even though the price continues to fall.

The strategy is to buy on dips as close to $0.22 as possible. As long as 0x trades above this level, bulls will likely gather the momentum to hit our initial target of $0.3375.

The process may take less than a month.

Daily Chart of 0x/US Dollar on Bitfinex

As of this writing, the 0x/US Dollar pair is trading at $0.2344 on Bitfinex.

Summary of Strategy

Buy: As close to $0.22 as possible.

Target: $0.3375

Stop: $0.212

 

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 327 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: Monero

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We started watching Monero (XMR/USD) ever since it dropped to support of $38.50 on December 15, 2018. At that point, we were interested to see whether the support would hold. After all, this was the area of accumulation back in May 2017. Back then, the market range traded between $38.50 and $58.50 for three months before launching a disbelief rally in August 2017. Thus, it only makes sense for this privacy-focused coin to find support at these levels.

Fortunately, the market printed a 2018 low at exactly $38.50 on December 15, 2018. This attracted bottom pickers and bargain hunters who helped push Monero to as high as $60.05 on December 24, 2018. While the market has been pulling back since, this gives us a chance to buy cheap before Monero leaves its accumulation range.

Technical analysis shows that XMR/USD is starting to look bullish. This view comes after the market refused to revisit support of $38.50. Instead of dropping all the way down to our range low of $38.50, Monero worked really hard to claim our range midpoint of $46.17. It was able to do so on February 8, 2019. With the range midpoint now acting as support, Monero is very likely to touch our range high of $58.50 and possibly break out of it.

The price action on the shorter time frame appears to support this view. A quick look at the 12-hour chart shows that Monero is printing a bull flag. This pattern suggests continuation of the previous bullish move once consolidation is over.

The strategy is to buy on dips as close to $46.17 as possible. As long as Monero trades above this level, bulls will likely gather the momentum to hit our target of $58.50.

The process may take less than a month.

Daily Chart of Monero/US Dollar on Bitfinex


As of this writing, the Monero/US Dollar pair is trading at $48.65 on Bitfinex.

Summary of Strategy

Buy: As close to $47.10 as possible.

Target: $58.50

Stop: $44.40

 

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 327 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: Ark

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Our November 23, 2018 trade recommendation for Ark (ARK/BTC) hit both of our targets. The first one was hit on January 4, 2019 when the market climbed as high as 0.0001297. The second target was achieved on February 8 when the price rallied to 0.0001539. Those who followed the trade recommendation grew their investments by over 70% in less than two months.

Now, we’ve been tracking Ark ever since it managed to go above our range high of 0.000128 on February 10. This was an indication that the market has left its accumulation range and it is now ready to trend higher. So far, the chart supports our view.

Technical analysis shows that ARK/BTC is forming a bull flag on the daily chart. This tells us that the market is more likely to continue its bullish momentum. The pattern suggests that the market is in consolidation as those who bought the bottom take profits. Once sellers lose ammunition, Ark will very likely resume its uptrend.

Technical indicators agree with this sentiment. We can see that volume has significantly declined after the February 10 range breakout. This shows that whales are not dumping their positions. Also, the low volume suggests that retail traders are the ones selling their positions. This is bullish because limited supply often translates to higher prices.

The strategy is to buy the dip as close to our new range support of 0.000128 as possible. As long as bulls protect this level, Ark will likely rally to our targets of 0.0001621 and 0.0001912.

The process may take a month.

Daily Chart of Ark/Bitcoin on Binance


As of this writing, the Ark/Bitcoin pair is trading at 0.0001352 on Binance.

Summary of Strategy

Buy: As close to 0.000128 as possible.

Targets: 0.0001621 and 0.0001912.

Stop: 0.000122

 

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 327 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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