Connect with us

Recommendations

Trade Recommendation: Dogecoin

Published

on

The Dogecoin/Bitcoin pair launched its bull run on December 24, 2017 when it broke out of the resistance level of 0.0000005. The momentum it carried was so strong that it more than doubled its value in about two weeks. On January 7, 2018 the market went as high as 0.00000114. At this price point, however, the market was in extreme overbought territory. Traders who bought the breakout at 0.0000005 took the chance to take profits.

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

As selling commenced, the market broke below 0.000001 on January 8. The price continued to drop until February 2 when the market went as low as 0.00000035. At that price level, bulls rushed in and brought the market back to 0.00000051. The price action on that day may have signalled the end of the correction.

Technical analysis show that the market is creating a bullish higher low setup at 0.0000005 support. The price action on February 2 created a massive hammer candlestick which indicates the presence of buyers in this area. In addition, volume spiked to 1,003 bitcoins on that day, when the average daily volume is around 200 bitcoins. This suggests that the market has capitulated.   

The strategy is to wait for the market to stabilize at 0.0000005. Should bulls defend that level, the market will most likely restart its climb up to 0.000001. The entire process can take two months.  

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

Daily Chart of Dogecoin/Bitcoin on Poloniex

As of this writing, the Dogecoin/Bitcoin pair is trading at 0.00000051 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.
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 167 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?

Recommendations

Trade Recommendation: aelf

Published

on

The Aelf/Bitcoin pair (ELF/BTC) has been trapped in a wide range between 0.000056 to 0.00022 since December 22, 2017. For about a month and a half, market participants accumulated positions as seen on the daily average Aelf volume of 30 – 40 million units. By February 6, 2018, volume began to exponentially decline. This suggests that early adopters are done accumulating positions.

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

All of a sudden, the market came back to life on April 12 when volume spiked to over 75 million Aelf units. The surge was a signal that the pair was in the latter stages of base building. True enough, ELF/BTC rallied to as high as 0.000238 before bottom pickers began to take profits.

The market has been correcting since. However, it appears the ELF/BTC is also preparing to mount another rally.

Technical analysis show that Aelf/Bitcoin is positioning make another run at 0.00022. This comes after the market respected the 50% Fibonacci level on May 18. In addition, a hidden bullish divergence can be spotted on the RSI. These indicators tell us that the pair is generating a bullish higher low setup.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

The strategy is to buy as close to 0.00016 as possible. If bulls can stay above this level, they will attract more bottom pickers who can help lift the market to our target of 0.00022.

The process can take less than a month.

Daily Chart of ELF/BTC on Binance

As of this writing, the Aelf/Bitcoin pair is trading at 0.00016026 on Binance.

Summary of Strategy

Buy: Current price of 0.00016026.

Target: 0.00022

Stop: 0.000155

 

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 167 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: Lisk

Published

on

This is a longer term buy trade. LSKBTC is in a nice uptrend coming off the recent 10 day retracement of the bounce from the bear market since February. The market seems to have more left in this move to the upside.

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

Expect strong resistance at the Monthly Pivot Range high. However, once we can get above this level, this could be a good buy trade for the longer term. Be patient, as it may take many days for the market to be convicted to go higher off the Monthly Pivot high resistance.

Another good sign is the Daily Pivot Moving Averages are flattening out which is a good indication the momentum is preparing to shift direction.

So, the action to take is to buy when the market closes above the Monthly Pivot Range high on the Daily chart. We should be confident in the support level of the Monthly Pivot Range low which would be a good place for the stop loss.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

Entry Price: 0.0013684
Stop Loss: 0.0012386
Profit Targets: First profit target 0.0015675. Second profit target 0.0019400. Once price reaches the first profit target raise the stop loss to breakeven. Then if the market follows through to higher levels manage the trade by trailing a stop loss .0000750 points behind until second profit target is reached or stopped out.

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...

4 stars on average, based on 56 rated postsI am the founder of VirtuesTrading.com, where traders can learn to use my Virtues Trading System. Formerly a Commodity Trading Advisor, I got my start in the Energy and Precious Metals Options & Futures pits of the New York Mercantile Exchange. I operate on the premise of efficient markets, the management of risk through the analyzation of price action and technical indicators. I have a BA in International Relations from the University of Southern California.




Feedback or Requests?

Continue Reading

Recommendations

Trade Recommendation: DKK/INR

Published

on

The Danish Krone/Indian Rupee pair (DKK/INR) started its uptrend in April 2011 when it took out resistance of 8.50. This triggered the cup and handle reversal pattern on the daily chart. The breakout attracted trend followers and momentum traders. They helped push the pair to as high as 12.3755 in August 2013. In two years, the Danish Krone rose by over 45% against the India Rupee.

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

At this price level, the pair was in extreme overbought territory. Those who followed the trend took it as a signal to take profits. The selling drove the pair to 11.0592 in October 2013. While bottom pickers bought the dip, they could only attract enough momentum to rally to 11.6284 in January 2014.

The lower high killed the market’s bullish sentiment. The pair then broke support of 10.40 in December 2014. The break below the support triggered a selling frenzy as it activated the rounding top reversal pattern on the weekly chart. As a result, DKK/INR nosedived to as low as 8.8039 in April 2015.

At this price point, the target of the rounding top pattern has been hit. This attracted bottom pickers and the buying activity they inspired has enabled the market to rally. In fact, DKK/INR has managed to jumpstart another bull run.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

Technical analysis show that the Danish Krone/Indian Rupee pair has taken out resistance of 10.40 in January 2018. This triggered the double bottom reversal pattern on the weekly chart. The breakout has lifted the pair to as high as 10.9716 in April 2018. However, the market has been correcting since. This is your chance to buy near the breakout point.

The strategy is to buy as close to 10.40 as possible. As long as bulls preserve this level, they have all the momentum they need to climb to our target of 11.60.

The process may take more than six months.

Weekly Chart of DKK/INR

As of this writing, the Danish Krone/Indian Rupee pair is trading at 10.7465.

Summary of Strategy

Buy: Buy on dip as close to 10.40 as possible.

Target: 11.60

Stop: 10.20

 

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 167 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

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