Connect with us

Recommendations

Trade Recommendation: Dash

Published

on

The Dash/Bitcoin (DASH/BTC) pair started its uptrend on December 20, 2017 when it broke out of a bullish reversal pattern after taking out 0.075 resistance. The next day, it went as high as 0.09199600, but at this point, the market was near overbought territory. The 40% growth from December 20th’s opening of 0.06541019 was enough for market participants to take profits.

With increased selling pressure, the market broke below 0.075 and went as low as 0.06270017 on January 6, 2018. As market participants sensed a higher low was in place, the pair bounced and went as high as 0.07830842 on January 13. From then on, the market’s trading range narrowed by the day until the price suddenly surged on February 8.

Technical analysis show that the market has broken out of a bullish continuation pattern on February 8 when it went as high as 0.07329890. While the market is currently taking a slight dip, this is your chance to enter while the break out is still at its early stages. Looking at the volume, it is way below its average, which suggests that sellers are losing ammo.

The strategy is to buy as close to 0.068 support as possible. After sellers take profits, the market will likely resume its ascent to our target of 0.1. The process might take about a month.

Daily Chart of Dash/Bitcoin on Poloniex

As of this writing, the Dash/Bitcoin pair is trading at 0.06879842 on Poloniex.

 

 

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
2 votes, average: 2.00 out of 52 votes, average: 2.00 out of 52 votes, average: 2.00 out of 52 votes, average: 2.00 out of 52 votes, average: 2.00 out of 5 (2 votes, average: 2.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.7 stars on average, based on 191 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.




Feedback or Requests?

2 Comments

2 Comments

  1. joenguyen1506

    February 15, 2018 at 4:38 pm

    Hi! i am a loyal customer since awhile ago. I think you should put more recommendation based on USD pairs, since it is always better to make USD, and it reflects a better true value. Thanks

    • MinerMatt17

      February 15, 2018 at 6:05 pm

      Not really, as most of these coins are traded against bitcoin, and accumulation of more bitocin via trading is the goal for many people.

You must be logged in to post a comment Login

Leave a Reply

Recommendations

Trade Recommendation: Zcash

Published

on

The Zcash/US Dollar pair (ZEC/USD) lost almost 70% of its value this year when it dropped to $150.10 on July 12, 2018. With such a huge plummet, some investors might think it’s prudent to stay on the sidelines for now and wait for a clear sign of reversal. While they wait, we think there’s a good opportunity to bottom fish the market. We have technicals to support our view.

Technical analysis show that Zcash/US Dollar has broken out of a falling wedge pattern on the daily chart. The breakout comes after the pair dropped to long-term support of $150. This inspired the market to rally to as high as $222 on July 2. The rally, however, was short-lived as those trapped around $200 dumped positions to minimize losses. Nevertheless, ZEC/USD continues to show signs of strength.

First, the retest of support on July 12 and 13 was a huge success. Currently, we can see the pair creating a bullish pennant on the hourly chart. On top of that, the market has managed to turn the daily RSI resistance of 46.65 to support. Lastly, we can see a long bullish divergence on the daily MACD.

The strategy is to buy as close to $170 as possible. If bulls stay above this level, the market will likely rally to our initial target of $240. Take that out and the market has an easier path to $280, but that may take some time.

The process may take more than a month.

Daily Chart of ZEC/USD on Bitfinex

As of this writing, the ZEC/USD pair is trading at $174 on Bitfinex.

Summary of Strategy

Buy: As close to $170 as possible.

Target: $240 first and then $280.

Stop: $164

 

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.7 stars on average, based on 191 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.




Feedback or Requests?

Continue Reading

Recommendations

Trade Recommendation: OmiseGo/Ethereum

Published

on

The OmiseGo/Ethereum (OMG/ETH) pair lost about 45% of its value this year as it reached a low of 0.0148 on July 12. This sharp decline may give the impression that the market is extremely bearish. However, we believe that the pair is in sideways consolidation and we have the technicals to prove it.

Technical analysis show that OmiseGo/Ethereum is locked in a wide range between 0.015 and 0.03. This trend started in October 2017 when the pair established resistance at 0.03. Since then, bulls take over when OMG/ETH falls to 0.015 while bears take the market back when it rallies to 0.03. The recent drop to 0.015 presents an opportunity to once again trade the range.

Furthermore, we are confident that the market will bounce again because technical indicators are flashing reversal signals. First, the RSI has managed to turn its resistance into support while showing a bullish divergence. In addition, a bullish divergence can also be spotted on the daily MACD.

The strategy is to buy as close to 0.015 support as possible. If bulls preserve the support, a move to the top end of the range becomes very likely. The initial target is 0.02. Take that out and the market has an easier path to 0.03, but that may take some time.

The process may take more than a month.

Daily Chart of OmiseGo/Ethereum on Bitfinex

As of this writing, the OMG/ETH pair is trading at 0.015432 on Bitfinex.

Summary of Strategy

Buy: As close to 0.015 as possible.

Target: 0.02 first and then 0.03.

Stop: 0.0148

 

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.7 stars on average, based on 191 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.




Feedback or Requests?

Continue Reading

Recommendations

Trade Recommendation: Dash

Published

on

The Dash/Bitcoin pair (DASH/BTC) shed over 56% of its value this year when it dropped to 0.33412 on July 12. This plummet can be disheartening even to the avid supporter. However, it seems that worst is over for the market. We have the technicals to support our view.

Technical analysis reveal that Dash/Bitcoin may be bottoming out at 0.0355 support. There are multiple bullish signals that support this claim.

First, we see bulls coming to the rescue when the pair dropped below 0.0355 support. The price action has trapped bears who sold their positions when the market breached that level. Based on experience, a false breakdown is often followed by a sharp rally.

Second, the bear trap was sprung just as DASH/BTC flashed extreme oversold conditions. The RSI quickly jumped and managed to breach its resistance. This is a good sign that bulls are gaining momentum.

In addition, we can see a large bullish divergence on the daily MACD. This indicates the market’s underlying strength. Lastly, the 4-day, 8-day, and 21-day moving averages are starting to the attach to the daily candle’s body. All of them are trending up.

The strategy is to buy as close to 0.0355 as possible. If bulls continue to defend this level, they will gather the momentum they need to climb to our target of 0.045. Take that out and we have a clear path to 0.055.

The process may take less than a month.

Daily Chart of DASH/BTC on Binance

As of this writing, the Dash/Bitcoin pair is trading at 0.03606 on Binance.

Summary of Strategy

Buy: As close to 0.0355 as possible.

Target: 0.045 and then 0.055.

Stop: 0.033

 

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.7 stars on average, based on 191 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.




Feedback or Requests?

Continue Reading

5 of 15 Seats Available

Learn more here.

Recent Comments

Recent Posts

A part of CCN

Hacked.com is Neutral and Unbiased

Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

Trending