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Trade Recommendation: Bitmark

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The Bitmark/Bitcoin pair (BTM/BTC) flashed bullish signs on December 13, 2017 when it breached 0.00012 resistance. The strong breakout gathered sufficient momentum to carry the market to as high as 0.00024 on January 10, 2018. In less than a month, the pair grew by 100%. Breakout players dumped positions as they took the chance to lock their gains.

As bears dominated the market, BTM/BTC fell to 0.00014811 on January 17. Even though the pair rallied, it could only go as high as 0.00018485 on January 29. Since then, it’s been creating a series of lower highs and lower lows, and it appears that the market is headed to its last firm support.

Technical analysis show that Bitmark/Bitcoin have taken out 0.00012 on February 6. More importantly, it seems to have created another lower high of 0.00010686 on March 21. The bearish price action could increase the selling pressure in the market, and force it down to 0.00005 support. Bulls have held this support level since August 2014. It is the market’s strongest support level.

The strategy is to buy as close to 0.00005 as possible. If bulls continue to defend the support, the market will likely create a base at this price before it can rise to our target of 0.00012. The process may take more than a month.

Daily Chart of Bitmark/Bitcoin on Poloniex

As of this writing, the Bitmark/Bitcoin pair is trading at 0.00008832 on Poloniex.

Summary of Strategy

Buy: As close to 0.00005 as possible.

Target: 0.00012

Stop:  0.000048

 

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 251 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: NEO/Ethereum

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The NEO/Ethereum (NEO/ETH) pair took out resistance of 0.07 on August 31, 2018. This triggered the breakout from the large falling wedge on the daily chart. The price action attracted breakout players and momentum traders who helped push the pair to as high as 0.099934 on September 12.

Although we missed the breakout rally, we’re confident that we’ll be able to buy the dip. After all, NEO/ETH was already trading at extreme overbought territory. It would be foolish to chase a flying altcoin. We’d rather wait for the pullback and see how the market plans to resume its uptrend. It looks like we’re getting the go signal.

Technical analysis shows that NEO/ETH has just taken out resistance of 0.08. This enabled the pair to break out of the bullish pennant on the daily chart. The breakout looks convincing because of serious volume. On October 18, the market breached the resistance with volume that’s over 180% of its average.

In addition, the 30-day, 60-day, and 90-day moving averages are all lining up below the candles. This is an uncommon alignment indicating that the uptrend is strong and healthy.

The strategy is to buy the retest of breakout as close to 0.08 as possible. As long as the market stays above this level, it has all the momentum it needs to rally to our target of 0.115. The process may take a month.

Daily Chart of NEO/Ethereum on Binance

As of this writing, the NEO/ETH pair is trading at 0.081214 on Binance.

Summary of Strategy

Buy: As close to 0.08 as possible.

Target: 0.115

Stop: 0.076

 

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 251 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: Stellar

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Our July 10 trade recommendation for Stellar (XLM/USD) hit its target on July 17 when it went as high as $0.2564. Those who followed the trade suggestion grew their investments by over 40% in one week.

While Stellar overshot our target price and climbed as high as $0.352 on July 25, we were satisfied not to chase the rally. At that point, the market was trading in overbought territory. In addition, it was flashing a bearish divergence. We’re happy to wait for the dip to get our next chance to buy. It looks like that opportunity is presenting itself.

Technical analysis shows that XLM/USD is poised to breach resistance of $0.255. This would trigger the breakout from the large symmetrical triangle on the daily chart. Stellar has been trading inside this pattern since May 2018. A clear breakout should generate a lot of bullish momentum.

Also, the daily RSI is in great shape. It just bounced off support of 37 after flashing overbought readings on September 23. This tells us that the RSI has cooled off so it has the room to accommodate a monster rally.

Last, we’ve been hearing rumors that Coinbase might potentially add Stellar to its exchange. This type of development could help ignite a breakout.

The strategy is to buy the breakout at $0.255 after the market generates volume of at least 2.5 million Stellar units. The market is up against a long-term resistance area. In other words, you can expect heavy selling at $0.255. Stellar needs buyers to alleviate the selling pressure.

Once breakout is complete, the market will likely have the momentum to rally to our target of $0.35 first and then $0.45. The process may take more than a month.

Daily Chart of Stellar/US Dollar on Bitfinex

As of this writing, the Stellar/US Dollar pair is trading at $0.24958 on Bitfinex.

Summary of Strategy

Buy: Breakout at $0.255 after volume of 2.5 million Stellar units.

Target: $0.35 first and then $0.45.

Stop: $0.24 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 251 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: WAX

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WAX is the #92 ranked cryptocurrency with a market cap of $64 million. Over the past several months, WAX token has crashed harder than most the other top 100 tokens. This is mostly do to news way back in June of Valve, the developer of the popular game Counter-Strike; Global Offensive (CS;GO), sending a cease and desist order to OP Skins. OP Skins responded by saying, “The future of digital item trading is instant, free, and peer-to-peer. Wax is being built to support a post-Valve trading economy. Valves’ decision was not unexpected, one company cannot kill the digital item trading industry.”

There are over 80 employees developing the WAX ecosystem. They already came out with their own skin making platform called VGO, it’s the most used Dapp in all of crypto. Through VGO, games can create and sell their own unique items on the WAX blockchain, similar to Ethereums ERC721 protocol. These NFTs will be designed to be interchangeable in future games. The first game to use them called, The Forge Arena is already being played.

The team has formed several new partnerships including Terra Virtua, a new startup apparently some are calling the “Netflix of VR”.

Just a couple days ago they announced WAX Stickers. A promising new concept that allows creating and selling unique stickers that can be used with skins or in other forms of social media.

Upcoming Catalysts

  • WAX is partnered with Robotcache, a platform to resell your digital PC games. Instead of doing an ICO, Robotcache is raising funds privately, and in Q4 will airdrop a small percentage of their IRON tokens to WAX holders.
  • WAX platform/protocol token will be issued to all WAX holders at a 1:1 ratio in Q4. This new token will be the backbone of the ecosystem.
  • Guild creation and voting starts in Q4. Guild leaders are allowed to reward WAX holders for votes.
  • WAX is still not listed on Binance.
  • October 28-29, they will be presenting at TwitchCon
  • October 30- Nov 2, presenting at World Crypto Con. Both of these conferences are huge.

Past 8 months chart in BTC

Summary of Strategy

The lowest price it has been is around 860 sats for a short period just last month. It currently sits at 1040 sats after a recent 10% spike.

Buy: Current price or lower 0.00001020

Target: 0.00001640 (try to hold thru the airdrop Q4, the exact date will be announced soon on Telegram. sell the old ETH-WAX right after receiving the new airdrop)

Stop: 0.0000850

Join the WAX community https://t.me/wax_io

Disclaimer: The writer owns WAX token.

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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4.2 stars on average, based on 26 rated postsJoshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data. Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!




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