Connect with us

Recommendations

Trade Recommendation: Ethereum

Published

on

The price diverges with MACD and RSI and it gives us trend reversal signal. The key level is 400.00 and if the market bounces from this level, we should be ready to see further upward movement. Long trades can be opened based on a breakout above the downtrend line. Entry level is 430.00 with stop orders at 386.00 level. Profit targets are 480.00 and 550.00 levels. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: ETHUSDT
Buy: 430.00
Stop: 386.00
Profit Targets: 480.00 and 550.00

The trading signal is based on Poloniex chart.

Disclaimer: The analyst does not have investments in Ethereum.

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...

3.3 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.




Feedback or Requests?

Recommendations

Trade Recommendation: Litecoin

Published

on

Litecoin (LTC/USD) is coming off lows just like many altcoins. The cryptocurrency dropped to as low as $49.33 on August 14, 2018. At that point, the plummet seemed unstoppable. It’s as if bears were determined to short the market even if it was already trading in extreme oversold territory. However, bottom pickers started to enter the market just as LTC/USD was about to breach major support levels.

Technical analysis show that LTC/USD is still trading inside a large falling wedge pattern on the daily and weekly charts, but that won’t be the case for long. The market is approaching the wedge’s apex. As it does, it is also about to hit two major support levels: the parabolic support and the long-term support.

The recent bounce is affirmed by a sudden volume surge. The volume spike may not be extreme but it’s noticeable. This tells us that bulls also see the convergence of supports and they are now buying the market.

Lastly, we can see a large bullish divergence on the daily MACD. The market continues to gather strength even as the price falls.

The strategy is to buy the retest of support as close to $50 as possible. If bulls hold $50, they will likely gather the momentum they need to break out of the falling wedge and quickly climb to our target of $80.

The process may take less than a month.

Daily Chart of Litecoin/US Dollar on Coinbase

As of this writing, the Litecoin/US Dollar pair is trading at $56.05 on Coinbase.

Summary of Strategy

Buy: As close to $50 as possible.

Target: $80

Stop: $48

 

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...

3.6 stars on average, based on 224 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: Ethereum

Published

on

Just like many cryptocurrencies, Ethereum (ETH/USD) is having a terrible month. Investor outlook turned bleak on August 14, 2018 when the market plummeted to $249.93. At that point, Ethereum was down over 80% from its all-time high of $1,424.30. Just as Ethereum started to look hopeless, bottom pickers emerged.

Technical analysis show that ETH/USD is at the apex of a large falling wedge on the daily and weekly charts. The drop to $249.93 was seen as a buying opportunity since bulls came in droves. You can see this in the recent volume surge. We haven’t seen this volume since May.

The increase in demand pushed the market above $285 support. This is critical as $285 is the staging ground of the rally that saw the cryptocurrency skyrocket to $1,424.30. This tells us that ETH/USD may be badly beaten but it is not yet broken.  With the market above $285 again, bulls can use it to gather momentum and break out of the falling wedge.

The strategy is to buy the breakout at $325 as long as the market volume of 380,000 Ethereum is met. Those who bought the bottom might take profits at $325. ETH/USD needs buyers to absorb the selling pressure.

Once ETH/USD takes out $325, it can climb to our target of $520. Sell immediately.

The process may take less than a month.

Daily Chart of Ethereum/US Dollar on Bitfinex

As of this writing, the ETH/USD pair is trading at $304.22 on Bitfinex.

Summary of Strategy

Buy: Breakout at $325 with volume of 380,000 Ethereum.

Target: $525

Stop: $300 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.

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...

3.6 stars on average, based on 224 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: Bitcoin

Published

on

Bitcoin (BTC/USD) has been on a freefall since July 24, 2018 when its dead cat bounce came to an abrupt end at a price level of $8,496.96. The “smart money” used the rally to dump positions. Even support of $7,400 could not halt the skid. By August 14, BTC was trading below $6,000 and gloom and doom forecasts of a drop to $4,000 once again dominated the conversation.

Just as the calls to short the largest cryptocurrency were becoming louder, the market rallied to $6,628.50 on August 15, obliterating many short positions in the process. It’s not easy to trade Bitcoin, but if you look closer, you can see that there’s a method to the madness. 

Technical analysis show that BTC/USD is about to break out of an inverse head and shoulders pattern on the hourly chart. This is the same pattern that Bitcoin used to spark a rally on July 18, 2018. If you’re looking for a reversal, this pattern should be your primary candidate.

The strategy is to buy the breakout at $6,600 as long as the market generates volume of 500 Bitcoin units on the hourly chart. So far, the $6,600 resistance is proving to be one tough nut to crack. Bitcoin needs heavy volume to help push the price above the resistance.

Once BTC/USD takes out $6.600, it can quickly climb to our target of $7,400. Sell immediately. This might be another pump and dump rally.

The process may take less than a month.

Hourly Chart of Bitcoin/US Dollar on Bitstamp

As of this writing, the BTC/USD pair is trading at $6,351.01 on Bitstamp.

Summary of Strategy

Buy: Breakout at $6,600 with volume of 500 BTC.

Target: $7,400

Stop: $6,500 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.

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: 3.50 out of 52 votes, average: 3.50 out of 52 votes, average: 3.50 out of 52 votes, average: 3.50 out of 52 votes, average: 3.50 out of 5 (2 votes, average: 3.50 out of 5)
You need to be a registered member to rate this.
Loading...

3.6 stars on average, based on 224 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