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Trade Recommendation: Bitcoin Gold

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The price bounces from the support zone. This zone is formed by the uptrend line, SMA100 and it can be a good starting point for a new upward movement. RSI confirms price reversal. MACD gives bullish signal. DMI allows opening long trades. Pending orders for buy can be placed at 290.00 level with stop at 257.00 level. Profit targets are 335.00 and 380.00 resistance levels. The part of trade volume can be left for long run. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: BTGUSDT
Buy: 290.00
Stop: 257.00
Profit Targets: 335.00 and 380.00

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

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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  1. khaddafi

    December 18, 2017 at 6:10 pm

    Did a little stake on it but was a scarry ride down for days. The coin just waked up today finally just got my trigger ready to bail out if it decides to dip backa gain

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Altcoins

EOS Price Analysis: EOS/USD Back in Unsettled Territory, as Price Runs into Sellers Again

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  • The EOS/USD bulls are unable to sustain any upside momentum following a breach of critical support.
  • Near-term supply is eyed in the early $2.5000 region. A break above would likely open the door for another retest of the big $3.0000.

The EOS price was seen creeping lower again in the early part of trading on Tuesday. This comes after a big jump to the upside seen in the second part of the session on Monday. EOS/USD had gained a chunky double-digits, around 12%, at the close of the daily. Buyers came in after the low print on Sunday 13th at around $2.25. This was within a market demand zone, tracking from $2.25-$2.35, having supported the price on occasions in December and January.

Recap: Big Breach of Critical Support

EOS/USD daily chart.

As a reminder, EOS/USD throughout its most recent bull run, which was seen from 6th December right up to 9th January, was well-supported. An ascending trend line could be observed, providing necessary comfort to the bulls. However, all runs must come to an eventual end, and the bears smashed through this support on 10th January. Given the break through this vital area, it exacerbated the move to the downside. The price had dropped a heavy 22%, taking a big blow after a strong run.

Barriers Blocking Bulls

The bulls have been cut short for now, not being able to have sustained that momentum from the session on Monday. Trading has been extremely choppy since 19th December, via the daily chart view, highlighting a real lack of consistency in either direction. A consecutive streak longer than two days from either bear or bull camp hasn’t happened since the run higher in mid-December. This demonstrates just how mundane and non-committed market participant are for now.

In addition to the last statement above, further technical levels and areas continue to plague direction. To elaborate, there are more areas that the price must deal with now in comparison to the smooth bull run higher seen in 2017. Separately, if looking at 2018, the bears generally had an easy ride south. This is thanks to the cryptocurrency instruments being so young still in age.

Key Near-term Levels

For the bulls to see greater upside, a break of near-term supply within the early $2.5000 region will need to push prices forward. This should open the door to a fast move to see a retest of the breached ascending trend line. In proximity to this is the psychological $3.0000 mark, which has proven to be a huge barrier for the bulls. To the downside, the mentioned demand area of $2.35-$2.25 is critical, and a failure to hold will be very punishing. Lastly, EOS/USD would be subject to a move sub-$2.0000, where support can be eyed. As a further worth case, then $1.5500 to be retested, the December low.

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.

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4.6 stars on average, based on 106 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.




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Cryptocurrencies

Augur Jumps 38% Overnight as REP/BTC Explodes on Binance

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Augur (REP) jumped 38% against the dollar late on Monday night, and sparked an influx of trading activity which saw daily trade volume spike 819% within a few hours.

The bump seems to have originated on Binance’s REP/BTC market, where seven hours of straight gains sent the token to a two-month high against the dollar. Meanwhile, REP’s satoshi value just reverted all the way back to August 2018 highs.

Augur recently teased a host of new features being added to its prediction market platform, however, suspicious eyes may be drawn to this retweet from last night. The article linked in the tweet is titled ‘Long Augur’, and urges readers to invest heavily in REP in anticipation of almost certain gains.

Augur Price

REP’s value had already climbed 10% by the time of the article’s retweet by the Augur team. Following the tweet, momentum continued and REP pushed through to 38% gains for the twenty-four hour period.

That took REP from $8.16 to a price of $11.33, and was accompanied by an 819% increase to trade volume which took the daily changeover from $1 million to $9.2 million.

Binance housed the highest concentration of the action via its REP/BTC market, which kicked into overdrive last night following a 21% decline in the previous few days.

Long Augur?

The Medium article is written by the team at 1Confirmation– a venture fund created by Nick Tomaino, and backed by Peter Thiel, Marc Andreessen and Mark Cuban.

Summarized in the post is a description of Augur’s work to date, and some speculation on future improvements, along with the crystal clear statement:

“We’ve invested in Augur directly via Reputation (REP), the native token to the Augur platform…”

Of course, the article ends with a disclaimer urging readers not to take this as investment advice, so legal bases are covered. However, one recalls the trouble Elon Musk went through with the SEC after he jokingly speculated on his company’s stock price on the Joe Rogan podcast.

The publication of the article coinciding with the sudden upturn in REP’s fortunes may be pure chance. But with financial and legal pressures set on reigning in some of the ‘Wild West’ aspects of the crypto game, retweets like those of the Augur team may soon come under a lot more scrutiny.

Augur’s REP?

Augur remains one of the most celebrated blockchain applications of the last few years, mainly because it actually has a working product – still a rarity at this current time.

Some may question whether decentralized gambling apps are really the way to mass adoption. However, right now, these decentralized apps are some of the best examples of how two separate entities can interact economically without the need of a centralized third party. For that alone Augur deserves attention.

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.

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4.5 stars on average, based on 123 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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GBP Price Prediction: British Pound Jumps on Growing Backing for PM May’s Brexit Deal Ahead of Vote

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  • GBP catches a bid across the board as Prime Minister Theresa May gains ERG support.
  • Despite session gains, GBP/USD technically has vulnerabilities to downside risks, given rising channel formation.

GBP Bulls Awaken

The British pound (GBP) saw a decent jump to the upside on Monday, after an initially very choppy directionless start to the session. The buying swooping into GBP/USD came on the back of a growing number of ministers set to back Prime Minister Theresa May. Specifically, attention was grabbed after closely followed political watcher Robert Peston tweeted that “influential Tory Brexiter MP tells me he and his ERG Brexiter colleagues will be voting with Theresa May and the government all day tomorrow”. This is significant as the ERG is a very influential Brexit research group, which was previously plotting ways to oust PM May.

GBP/USD jumped to its highest level seen since 22nd November. The pair had seen an initial spike of 85 pips to the upside. Gains were capped however by a known strong area of supply; this can be seen tracking from 1.2870 up to 1.2930. The price has not been above here since 15th November 2018, and the bulls having faltered here on several occasions attempting to move above. Should GBP/USD manage to move above this zone, it would be a very strong signal that it is out of the bear market. Technically, this would be largely attractive for inviting further buyers to come in.

A detailed analysis of the upcoming Brexit vote can be viewed here: This Tuesday Will Be Zero Hour For the British Pound

Price Remains Confined Within Channel

GBP/USD daily chart. Price action remains within the confinements of a rising channel.

Another key technical observation is an ascending channel formation, which can be viewed via the daily chart. The GBP/USD pair has been moving within this since 12th December 2018, having gained over 400 pips since it took shape. The daily candle today briefly spiked above the upper tracking trend line of the pattern. However, the price was squeezed back within the confinements of this. Touted profit-taking kicked in towards the close of the European markets. This is not too surprising, as participants maintain an element of caution heading into the high-profile vote.

Given the nature of the above-described formation, should it play out to the textbook, vulnerabilities still point to a breakout south. This move would be heavily assisted should the British Prime Minister lose the meaningful vote on Tuesday. In terms of key levels to note, to the upside, a break above the 1.2930 supply zone will invite large buying pressure. To the downside, a breach of 1.2650, the lower support of the channel, will open flood gates to selling.

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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4.6 stars on average, based on 106 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.




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