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Trade Recommendation: DigiByte

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Based on the daily chart we have a buy opportunity. Possible upward movement is confirmed  by RSI reversal in the oversold zone and MACD histogram. We can use lower time frame for getting a better entry level. If we look at the 4H chart, we can see a bullish divergence at the support level. It gives us a trend reversal signal. MACD supports upward movement. We can place pending orders for buy at 0.00000220 level with stop orders at 0.00000150 level. Profit targets are 0.00000300 and 0.00000450 levels. Also the part of long positions can be left for long run. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

Market: DGBBTC
Buy: 0.00000220
Stop: 0.00000150
Profit Targets: 0.00000300 and 0.00000450

The trading signal is based on Poloniex chart.

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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  1. a4arpan

    October 19, 2017 at 4:45 pm

    all of a sudden all recommendations are going wrong?

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Altcoins

Ethereum Price Returns to Weekly High; EOS Behind ‘Fish’ Attack?

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Ethereum has regained lost ground over the week, returning to the seven day high of $475, even breaking the $476 mark just under an hour ago. For the last few days pundits and analysts marked the $450 barrier as the breakout point, but the growth really accelerated after breaching the $455 level.

In the last twelve hours or so Ethereum went from a price of $446.86 up to $476.13 – a 6.5% growth. If we look at the the strongest surge, which occurred six hours ago at 10am (UTC), we see that ETH prices experienced a 5% spike within just a few hours.

Looking at the weekly trend we see that ETH was falling in value against the dollar for six out of the seven days. Yesterday the coin tried to push upwards, but flattened out in the middle of the day. Last night into today marks Ethereum’s (and most of the market’s) first extended growth pattern for the week.

On June 16th Ethereum’s price was around $489 – not all that far off today’s level. Yet by June 21st the price had hit $543.72, meaning ETH’s value still stands at 12.5% less than during the monthly peak.

Exchange Activity

Bitcoin started the day with faster growth than Ethereum, but eventually fell away to 3.88% growth, compared to Ethereum’s 6.5%. The vast majority of Ethereum’s trades are coming against BTC right now, with ETH/BTC making up around 27.5% of the daily total.

The next most popular trade is against USDT, making up nearly 20% of the 24 hour volume.

The busiest exchange for Ethereum today has been CoinEx – the China-based exchange where the biggest trade volumes come in the form of BTC/USDT trades.

Interesting to note is Ethereum’s second most concentrated source of activity today, namely on Bitfinex where 5% of ETH’s daily total has been directly against U.S Dollars. That amounts to $80 million of the daily volume of $1.7 billion, and marks a sharp influx of new money into the markets.

iFishYunYu Attack

Spam attacks are nothing new to the Ethereum network, and are ultimately helpful in the long run due to their tendencies to highlight potential weaknesses in the platform.

The spam attacks commenced again this week as a smart contract began to overload the Ethereum network with pointless, meaningless transactions. At one point the flurry of activity raised gas prices to over 200 gwei, while some users have reported fees of several ETH at the absolute peak of the spam.

The attack was configured using Ethereum’s own token launching features. Around 5 billion ‘Fish’ tokens were created and distributed to multiple wallets, which then distributed them around to more. What followed was a senseless series of transactions between the wallets which eventually succeeded in congesting the network.

The issue has since been resolved, but already some Ethereum developers are pointing the finger at representatives, either official or unofficial, of EOS. Let the crypto wars commence…?

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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4.4 stars on average, based on 22 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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Bitcoin

Bitcoin Price Gains Momentum as BlackRock Gets Serious About Crypto

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After a week of lateral moves, the bitcoin price rose Monday on reports that one of Wall Street’s biggest asset managers was assembling a team to explore cryptocurrency adoption.

Bitcoin Price Update

The largest cryptocurrency by market capitalization peaked near $6,620 at 08:49 UTC, the highest in six days. At the time of writing, bitcoin was trading near the intraday high of $6,620 for a gain of 4%, according to CoinMarketCap.

Bitcoin held relatively steady over the weekend, with prices hovering between $6,300 and $6,400. The coin’s successful defense of $6,000 – a key technical and psychological threshold – has encouraged bids after trading volumes plunged to their lowest levels of the year.

As Hacked reported Sunday, turnover in the cryptocurrency market fell to $8.8 billion over the weekend. Bitcoin accounted for roughly a third of that total. On Monday, bitcoin’s trading volumes were back up to around $4.9 billion, the highest in two weeks.

Bitcoin is likely to run into resistance north of $6,800 – a region that capped last weekend’s rally. BTC/USD peaked at $6,866 on July 8.

Institutional Bull Run?

Bitcoin’s gains were fueled by speculation that BlackRock, one of the world’s largest asset managers, is planning an entry into the cryptocurrency market.

London’s Financial News, citing unnamed sources, said BlackRock has assembled a working group to investigate blockchain technology and cryptocurrencies. Sources also indicated that the team of exports is looking at what other asset managers are doing with cryptocurrencies and how it can impact BlackRock’s underlying business. The findings of the research will be presented to senior management.

“Like most financial institutions, BlackRock has a working group that meets periodically to exchange information on blockchain and consists of employees from various parts of the business,” a spokesperson for the company said in a statement, according to CNBC.

“We have been looking at blockchain technology for several years, recognizing potential for shared processes and data across market participants, clearing, settlement and reconciliation and simplified securities issuance.”

CNBC believes the working group was first assembled in 2015.

While cryptocurrencies continue to polarize Wall Street, major financial institutions are slowly changing their tack. It was only last year that BlackRock CEO Larry Fink said that bitcoin was merely a “speculative” instrument used for anonymity and money laundering. Now, his company may be on the cusp of entering the market.

Exchanges like Coinbase are betting big on institutional adoption and have created a suite of custodial services aimed at luring this segment of the market. Industry experts believe that the next major bull market for cryptocurrencies will be driven mainly by institutions, marking a significant departure from the retail-dominated surge of 2017.

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 497 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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Cryptocurrencies

Digibyte Price Jumps 18% Following CNBC Coverage

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As the markets started to turn this morning a few coins quickly raced out in front. Within the top-10 EOS was the strongest grower with over 9% growth in the last couple of hours.

But of all the coins in the top-40, Digibyte stands out as the strongest performer in a morning of strong performers.

Yesterday evening (UTC) one DGB coin was worth $0.0338, and by the time of writing that price now stands at $0.0401. That marks 18% growth and gives DGB the title of 5th strongest performer out of the top-100 this morning.

Digibyte’s weekly high of $0.0458 is still some way off, but depending on the strength of today’s market recovery DGB could perhaps clear its weekly high before the week is over.

Close to 95% of DGB’s daily volume has come against BTC, with ETH trades making up only a fraction of the 24 hour total.

Digibyte Gets CNBC Coverage

Last Friday, the 13th of June, turned out to be quite a lucky day for Digibyte as it got a taste of what all coins crave at this early stage of the crypto boom – mainstream media coverage.

Digibyte’s founder, Jared Tate, joined CNBC’s ‘Cryptoman’ Ran Neu-Ner to talk about a range of crypto and blockchain related issues, while also filling viewers in on the potential of his own project.

The Digibyte community is one of the most active on Twitter, and was recently buoyed by the rollout of the Digibyte Awareness Team which aims to spread word of DGB’s features potential. The Twitter community had been requesting that Neu-Ner interview Jared Tate for a while, and they finally got their wish, as Neu-Ner said:

“Dear @DigiByteCoin community. You asked me for a year and here it is, my gift to you, my interview on CNBC with @jaredctate.”

DGB Listed on Cryptopia

Digibyte was recently listed on the token exchange Cryptopia, and while the bulk of the daily trades are still coming from Bittrex, Poloniex and Upbit, the Cryptopia trading pairs are slowly starting to heat up. Right now only around 2% of DGB’s daily volume is coming from Cryptopia, but today’s surge might see that change very soon.

The Cryptopia team took to Twitter on July 12th with an announcement that the DGB/USDT trading pair was now functioning and ready to trade:

“Hi Cryptopians! We are happy to announce the opening of the DGB/USDT trade pair as of 10pm UTC. You can start trading with this pair from now. Happy trading!”

At the moment no DGB/USDT trades have taken place, according to CMC, and Tether trades make up less than 1% of the total volume across various exchanges.

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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4.4 stars on average, based on 22 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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