Connect with us

Cryptocurrencies

Trade Recommendation: Dash

Published

on

This buy signal is based on a bullish divergence. The price diverges with MACD histogram and RSI and it tells us about trend reversal. MACD lines support upward movement. DMI allows open long trades. Pending orders for buy can be placed above the local high at 293.00 level. Stop orders can be placed below the local swing low at 265.00 level. Profit targets are 320.00 and 350.00 resistance levels. The part of volume also can be left for long run. If you don’t use leverage, recommended trading volume for this trade is up to 10% from your deposit.

// -- Discuss and ask questions in our community on Workplace.

Market: DASHUSD
Buy: 293.00
Stop: 265.00
Profit Targets: 320.00 and 350.00

The trading signal is based on Poloniex chart.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //
Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Cryptocurrencies

Trade Recommendation: Syscoin

Published

on

The price bounced from the support zone formed by the uptrend line and SMA50. MACD and DMI support upward movement. If the price breaks the resistance level and the previous swing high, we’ll get a signal confirming that the market is going to move higher. Pending orders for buy can be placed at 0.00002550 level with stop orders at 0.00002150 level. Profit targets are 0.00003000 and 0.00003800 resistance levels. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: SYSBTC
Buy: 0.00002550
Stop: 0.00002150
Profit Targets: 0.00003000 and 0.00003800

// -- Discuss and ask questions in our community on Workplace.

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

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Continue Reading

Bitcoin

Trade Recommendation: Ride the Next Rally of Bitcoin

Published

on

The profit taking period that saw the Bitcoin market fall from 19,697 to a low of 13,501 in a matter of a few days is almost up. The market appears to have generated a new higher low and will use that level to make its next move up.

// -- Discuss and ask questions in our community on Workplace.

Technical analysis reveals a large reversal pattern in the hourly chart that could signal the end of the correction. In addition, volume has been steadily decreasing. On Coinbase, volume spiked by as much as three times its average value in the hourly chart during the height of selling. In the last seven hours, however, volume has been way below its average indicating that bears have lot ammunition. More importantly, RSI in the hourly chart is far from overbought territory. This gives the market a lot of room to breach resistance at 18,000.

The strategy is to buy the market when it goes above 18,000. With signs of selling exhaustion, bears may not put up much of a fight the next time the pair breaches 18,000 on Coinbase. Also, the market has no stiff resistance above 18,000 so it has a clear path to our target of 22,500.

Hourly Bitcoin Chart on Coinbase

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

As of the time of writing, Bitcoin is trading at 17,200.

Summary of Strategy

Buy: breach of 18,000

Support: 17,200, 16,800, and 16,450

Target: $22,500

Stop: Move below 16,450

 

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 money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Continue Reading

Cryptocurrencies

Ethereum Just Broke $700 for the First Time

Published

on

Ethereum caught a tailwind higher on Wednesday, as prices broke above $700 for the first time ever amid general optimism in the cryptocurrency arena.

// -- Discuss and ask questions in our community on Workplace.

ETH/USD Price Levels

The ETH/USD exchange rate was trading at session highs at press time, rising 18% to $721. Trade volumes surged, with 24-hour turnover exceeding $5.2 billion. That’s equivalent to around 301,779 bitcoin.

Trading activity was spread out across the major exchanges, with Coinbase’s GDAX accounting for more than 11% of total transactions. South Korea’s Bithumb also accounted for roughly 11% of the daily transactions.

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

At present values, Ethereum’s market cap is $68.7 billion, according to CoinMarketCap. Ethereum is the world’s second largest cryptocurrency by overall market capitalization, outshined only by bitcoin.

Ether’s surge appears to have originated Tuesday afternoon, when prices first broke $600. By the early evening, ETH/USD was trading near $670. A sharp correction back down to $600 would soon follow before prices resumed higher over the next 12 hours.

Prior to the latest rally, ether found itself in a prolonged rut as prices struggled to rise above $500. Some analysts say ether’s transaction woes are limiting its upward momentum. The platform currently supports around 15 transactions per second. By comparison, Visa processes 45,000 per second. For ether to generate mainstream appeal, it will likely have to increase its transaction capacity. Discussions on the best way of doing so are ongoing.

Swiss Banking Giants Leverage Ethereum

Ether’s newfound strength comes on the heels of a new partnership announced by Swiss financiers UBS, Barclays and others to advance data collection and reconciliation tied to upcoming MiFID II regulations. The consortia, which also includes KBC, SIX and Thomson Reuters, is relying on Ethereum’s smart contracts to allow financial institutions to identify and sort out data-related anomalies. By leveraging smart contracts, the banks will be able to reconcile sensitive reference data without compromising sensitive information.

By using smart contracts, the banks hope to bring down costs associated with data collection and storage.

A UBS analyst heralded the partnership as an important step in advancing blockchain’s benefits beyond the obvious clearing and settlement market. MiFID II regulations will come into effect Jan. 3.

The cryptocurrency’s use cases have grown since the Enterprise Ethereum Alliance (EEA) was established. EEA boasts an impressive collection of Fortune 500 companies, startups and subject matter experts converging on smart contract research and development. The goal of the Alliance is to “define enterprise-grade software capable of handling the most complex, highly demanding applications at the speed of business.”

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 money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Continue Reading

Trending