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Trade Recommendation: Bitcoin Cash

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The price is going to move above SMA20. Based on a new swing low we can draw a new uptrend line. This line will be a good support for the market. We should be ready to see further upward movement. RSI confirms price reversal and MACD histogram confirms that the market probably will rise to the previous high. We can use a breakout signal and pending orders placing above the bullish candle in order to catch possible price movement on time. Entry level is 2800.00 with stop orders at 1960.00 level. The main profit target is 4000.00 resistance level. The 2nd profit target can be at 4500.00 level. The profit target for long term trading can be 0.00018000 level.  If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

Market: BCCUSDT
Buy: 2800.00
Stop: 1960.00
Profit Targets: 4000.00 and 4500.00

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The trading signal is based on Bittrex chart.
Disclaimer: The analyst does not have investments in Bitcoin Cash.

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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3.2 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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Trade Recommendation: Ethereum

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For every market route there is a silver lining. Without a market shakeout there can be no new bull market. Hence, we may be yet again at a new bottom and ready for a move up for Ethereum. The ETHUSDT coin price has developed a minor uptrend just above the Monthly Pivot level.

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Currently the Daily Pivot Range is holding the price intact with support at these levels. At the time of writing the price is sitting at exactly the 3 Day Rolling Pivot level (yellow dots).

When we have a number of Pivots and Pivot Ranges in close proximity like this, I call it a Pivot Stack. This is where we see the vertical stacking of the Pivots which forms a very strong price level from which we can discern a high probability setup. This is a somewhat dispersed Pivot Stack, but nonetheless is a good area of support.

We want to “lean against” the support or resistance in these setups. In this case we will want to lean against the support and look to take a long position. But we want to have confirmation by awaiting the price to go above the Monthly Pivot Range high, which is key resistance.

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So the action to take is to place a buy order slightly above the Monthly Pivot Range high.

Place your stop loss and profit targets stated below.

Entry Price: 627.00
Stop Loss: 568.00
Profit Targets: First profit target 687.00. Second profit target 710.00. Once price hits first profit target raise the stop loss to breakeven.

Disclaimer: The writer owns Ripple, 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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4 stars on average, based on 57 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: Bitcoin Cash

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A bottom may be in for the BCHBTC coin price. Currently the Daily Pivot Range (blue dots) is holding the price intact at these levels in a somewhat sideways channel. There is a minor uptrend that has developed along the Monthly Pivot level. Along with these Pivots we have the 3 Day Rolling Pivot Range holding support there as well.

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When we have a number of Pivots and Pivot Ranges in close proximity like this, I call it a Pivot Stack. This is where we see the vertical stacking of the Pivots which forms a very strong price level from which we can discern a high probability setup.

We want to “lean against” the support or resistance in these setups. In this case we will want to lean against the support and look to take a long (buy) position. But we want to have confirmation by awaiting the price to go above the Monthly Pivot Range high, which is key resistance, at .140700.

Sometime there is a chance the price penetrates this key level and retraces back into the “channel”. These trades are about probabilities, so we will place our stop loss at a sensible level and live with the risk as long as the risk reward ratio is favorable to us or at a minimum 1:1.

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Place your stop loss and profit targets stated below.

Entry Price: .140700
Stop Loss: .133900
Profit Targets: First profit target .149000. Second profit target .152500. Once price hits first profit target raise the stop loss to breakeven.

Disclaimer: The writer owns Ripple, 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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4 stars on average, based on 57 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: Florincoin

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The Florincoin/Bitcoin pair (FLO/BTC) launched its bull run on April 6, 2017 when it took out resistance of 0.00001. This triggered the large cup and handle pattern on the daily chart. The breakout attracted so much momentum that the market went as high as 0.00006541 on May 13. In less than a month, FLO/BTC grew by an astronomical 554%.

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At this price level, the market showed bearish signals. First, the market was in extreme overbought territory. In addition, it struggled to close above the 61.8% Fibonacci level. Those who saw these signals knew it was time to lock their gains.

The heavy selling drove the pair down to 0.00002232 on May 28, 2017. After seeing that the market respected the 38.2% Fibonacci level, bottom pickers entered the buying picture and ignited a rally to 0.00005645 on June 16. Sensing that a lower high was in place, participants dumped their positions to preserve their capital. As a result, FLO/BTC generated a series of lower highs and lower lows until it bottomed out at 0.00000505 on December 8.

The pair has been showing bullish signals since. This could be your opportunity to buy the breakout.

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Technical analysis reveals that Florincoin/Bitcoin is positioning to take out resistance of 0.0000157. This would trigger the ascending triangle pattern on the daily chart. To complete the breakout, FLO/BTC needs to print at least 1 million units of Florincoin. Those who bought the bottom and the higher lows are likely to take profits at the resistance. The market needs buyers to absorb the selling pressure.

The strategy is to buy the breakout of 0.0000157 after the market generates the required volume. The breakout may attract a lot of momentum that can push the pair to our target of 0.000024.

The process may take a month.

Daily Chart of Florincoin/Bitcoin on Poloniex

As of this writing, the Florincoin/Bitcoin pair is trading at 0.00001386 on Poloniex.

Summary of Strategy

Buy: Buy the breakout at 0.0000157 after volume of 1 million Florincoin units is met.

Target: 0.000024

Stop:  0.000014 after the breakout.

 

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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3.7 stars on average, based on 169 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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