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Analysis

Trade Recommendation: Ethereum / Bitcoin (ETHBTC)

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The price is below the cloud. DMI confirms trend market conditions and allows open short trades. We have 0.068000 strong support level and if the price breaks it, we’ll get an additional confirmation of further downward movement. Pending orders for sell must be placed below this support level. Stop orders must be at 0.078000 level. Profit target should be at 0.050000 support level. If the market bounces from 0.068000 support level and moves above the cloud, you have to delete sell orders. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

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Market: ETHBTC
Buy: 0.065000
Stop: 0.078000
Profit Targets: 0.050000

The trading signal is based on Poloniex chart.

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11 Comments

11 Comments

  1. Tarik

    September 15, 2017 at 12:50 pm

    BUY? wasn’t this supposed to be a SELL??

  2. yankel

    September 15, 2017 at 12:51 pm

    The main reccomendation I guess is get your dollars ASAP and get out of that cloud castle

  3. fermera_dany

    September 15, 2017 at 12:53 pm

    Sell … instead of buy.
    Cheers and thanks

  4. MaritaPhan38

    September 15, 2017 at 1:20 pm

    Joke?

  5. Aphelion

    September 15, 2017 at 1:41 pm

    This is the type of post that deserves a cancellation of by subscription.

  6. Synfl00d

    September 15, 2017 at 2:27 pm

    Is this correct? BUY?

  7. nptraveller

    September 15, 2017 at 3:56 pm

    It’s a Sell-Sell! Great post. And you guys are even talking about subscription cancellation… where’s your sense of humor?!

  8. 4dmrkey

    September 15, 2017 at 4:14 pm

    Sell? Come on, I sold and waiting to buy, but price just shot high. I just sold at better price than said here. Now I am at $400 negative.

  9. FalconX

    September 15, 2017 at 7:38 pm

    He clearly meant sell. Its called shorting…

    • 4dmrkey

      September 16, 2017 at 8:03 am

      Yes, I sold. I shorted and ended up in loss as market went up

  10. Dasani

    September 23, 2017 at 8:29 am

    how do u guys calculate ur risk when u short. Lets say u have a 1000 bucks on bitfinex – u transfer to margin… now u have 3000 on margin. So u would like to short for 5% worth of ur margin money (150$ worth of omg for example). Lests say price will go against (or in your favor) for 6% in price. you would loose (gain) only 40$ of / for your 1000. Is that correct?

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Analysis

Long-Term Cryptocurrency Analysis: Bitcoin Flirts with $8000 as Altcoin Bull Persists

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Bitcoin’s swift recovery was the main topic of the week, as the most valuable coin not just regained its steep losses, but hit a marginal new high towards the end of the period. The entire segment is experiencing capital inflows as the total value of the coins climbed above $230 billion for the first time ever after finally leaving the vicinity of the $200 billion mark.

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BTC breached the $8000 level before turning slightly lower on Friday, but despite the severely overbought daily chart, it is still trading near its all-time highs. As the long-term picture still suggests a deeper correction, investors should wait with opening new positions and traders should also control position sizes here. Key support levels are found at $7700, $7000, and $6700, while the recent key break-out level at $5000 still hasn’t been re-tested.

BTC/USD, Daily Chart Analysis

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Dash is still the most bullish altcoin from a technical standpoint, despite this week’s short-term correction, as the coin is trading above its prior all-time high, and this weekend, it looks ready to test the break-out high near $500. Support levels are still found at $400, $360, and $330, and as the long-term picture is approaching overbought territory, investors should only hold on to their positions here.

DASH/USD, Daily Chart Analysis

The other major altcoins are also mostly in bullish setups, with some of them already in the latter stages of this cycle, like Monero and IOTA, but elsewhere in the segment, there are still opportunities for both traders and investors. Let’s see the detailed long-term view.

(more…)

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Analysis

Technical Analysis: Litecoin and NEO Jump as Bitcoin Trades near $8000

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The cryptocurrency segment continued its bullish run, as the total value of the coins climbed above $230 billion for the first time ever, while Bitcoin also posted marginal new highs. The most valuable currency is still overbought regarding the long-term picture, and we continue to expect a deeper correction in the coming period, despite the recent strong rally. Support levels are still found $7700, $7000, and $6700 while the $8000 level is ahead as a major obstacle.

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BTC/USD, 4-Hour Chart Analysis

Litecoin has been the most active major besides Bitcoin, as it rallied strongly after breaking out above the key $64 resistance and it breached the next target at $75 before heading below $70 again. The coin remains in bullish long- and short-term patterns, and we expect a move above the major resistance zone ahead with the next target found at $82.50.

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Litecoin/USD, 4-Hour Chart Analysis

NEO is showing strength in the second half of the session, while Monero is recovering well from a short-term dip, similarly to IOTA and Ethereum Classic. Ethereum continues to represent stability in the segment, while Ripple failed to build up momentum so far after yesterdays spike higher. With still most of the altcoins being in bullish setups, let’s see the short-term charts.

(more…)

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Analysis

XRP Looking to Make a Significant Rally

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The XRP/USD pair went into a deep correction after hitting 0.29490 a month ago. It nosedived to the major support level of 0.19052. The pair consolidated for a few weeks which gave the market the legs to test resistance at 0.22924.

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Technical indicators show that the pair was ready to breach its immediate resistance, which it did this morning. Now that resistance has broke at 0.22924, it’s time to buy. This successful breakout will take the pair to 0.23997 first and 0.26563 next before hitting the target of 0.26796 which is coincidentally a major resistance level.

Technical indicators hint that the market would most likely be overbought by the time it hits 0.26796. Should it respect the major resistance level, the likelihood of the market turning extremely bearish increases. Therefore, it is recommended to closely watch your trail stops to preserve your gains.  

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Summary of Strategy

Buy: As close to 0.22924

Support: 0.22224 and 0.20081

Target: 0.26796

Stop: If the market breaches 0.20081 as next reliable support is 0.19052

 

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.



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