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Analysis

Trade Recommendation: Ethereum Entry Level

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Ethereum gives us a new trading opportunity. Based on the daily chart we can see that the price came back higher than 200.00 support level and broke the downtrend line which was a barrier for possible upward movement. Passing through this zone the market confirms that it’s going to move upward. Also a new swing low is higher than the previous one. It’s a signal that probably the downward movement is over and we should expect for the up trend continuation. If so, we must be ready for buying and it’s time to think about the best entry levels.

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The high of the current bullish candle gives us a possible entry level. We can use pending orders for entry at 227.00 level or buy from the market when price moves above this level. Stop orders must be placed below the local swing low which is lower than 200.00 support level and the uptrend line. Profit targets must be near 300.00 and 400.00 resistance levels. If you want to buy more safely, wait for a moment when the price breaks 240.00 resistance level. After getting confirmation that the market passes through this resistance, you should buy with the same stop and profit-target levels. The trading volume for this long position can be up to 10% from your deposit and if you don’t use leverage. The final volume should depend on how many markets you trade. Also you have to know that not all trading signals can be profitable. That’s why we must pay attention to proper risk management and diversification in order to make stable profit in long term.    

Buy: 227.00
Stop: 176.00
Profit Targets: 298.50 and 398.50

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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16 Comments

16 Comments

  1. Maddycurrupt

    August 1, 2017 at 4:13 pm

    Nice profit targets.
    Lets see

    • Dmitriy Lavrov

      August 1, 2017 at 4:31 pm

      yes, let’s see )

  2. [email protected]

    August 1, 2017 at 9:20 pm

    Awesome info,, right to the point!!!,, love it,
    ThankX

  3. Chris G

    August 1, 2017 at 10:44 pm

    alright, just bought 20 ETH at 227 … let’s do this thing!

    • xuxien

      August 2, 2017 at 10:41 am

      me too Chris, let s see what is going on!

    • fredthai

      August 3, 2017 at 7:13 am

      Bought also at 227 …But we are now at 218 ???

      • Dmitriy Lavrov

        August 3, 2017 at 11:22 am

        It was a breakout signal. Price can retrace after breakout the important level or the previous swing high or low. But this trading signal is based on the idea that we expect to see upward movement and such retracements won’t be deep.

        • Chris G

          August 3, 2017 at 3:59 pm

          Yeah, it teased a break-out at 227 and retracted a bit – I’m bullish on ETH in general, and am patient in terms of waiting for another breakout above the resistance level. Sim. situation with LTC as well …

  4. embersburnbrightly

    August 2, 2017 at 1:35 pm

    I also really appreciate the succinct and specific breakdowns at the end of these recommendations:

    Buy: 227.00
    Stop: 176.00
    Profit Targets: 298.50 and 398.50

    Thank you for these!

  5. Skampoe

    August 3, 2017 at 5:03 pm

    Thanks for sharing. Good post

    Just bougt 10 ETH too, lets hope for a nice ride up! 🙂

  6. fermera_dany

    August 3, 2017 at 7:57 pm

    Really thank you for this share and this levels. I am watching closely on ETH today. How it reached the 227 and how it went down a little after that. It is climbing again, hope to break it soon.

    I personally think to wait for 228 or 228+ and then enter .. In order to be sure that it broke the level for sure, but this is 100% based on your recommendation, so thanks again.

  7. fermera_dany

    August 3, 2017 at 8:28 pm

    Can I, please, ask a newbie questions for kraken here?

    If I post the “Limit” BUY order in Kraken to 228 USD (or EUR equivalent) and it did not happend for 10-15-20 days or so…
    Then, will I be charged from kraken.com for the period that the order was staying open overnights?

    Also in order to STOP on profit level:
    I shall post the same (amount of ETH) “SELL” limit order at the price that I want to stop, correct?

    Thank you in advance for your time to ask or for any useful links that you might provide.

    • Dmitriy Lavrov

      August 4, 2017 at 10:57 pm

      As for possible fees from Kraken, it’s better to read their trading terms. I’m not sure in it. And about type of orders, you can use limit for entry based on your price. For exit you will have to sell the same volume.

    • FirewoodTime

      August 6, 2017 at 5:45 am

      no. I trade on Kraken all the time. I set it and run my business rarely looking. Sometimes it takes 10 days for something to drop in so I can buy low….I love Kraken except like today when people are using margin like crazy. I use margin too and when they are running out, our orders get canceled till they free up…..

  8. Inverstor Clouseau

    August 8, 2017 at 9:09 pm

    Great call, if only I saw this earlier…

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Analysis

Long-Term Cryptocurrency Analysis: Broad Correction Enters Next Phase

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The overbought BTC-led correction that has been the dominating technical process in the cryptocurrency segment in the last month or so continued in earnest today, amid the intensifying regulatory steps concerning the sector. The three-week-long consolidation that followed the initial mini-crash concluded with a sharp sell-off overnight rearranging the long-term charts, while likely kicking off another volatile period.

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While most of the crash lows held up today in early trading in the majors, especially in the case of the late leaders like Ethereum and NEO, some of the relatively weaker coins are already trading below the December minimums. We expect most of the majors to follow Dash and LTC, the weakest of the largest coins, lower and trade below the previous lows, as sentiment will likely swing to a bearish extreme.

The $11,300 level has been in the center of attention throughout the session today and the most valuable coin experienced heavy trading around the level as expected. As the daily MACD is still in neutral territory, the coin could be in for another leg lower, but after the 40% correction and the rather lengthy consolidation, investors could be looking for entry points during the move near the key support levels at $10,000, $9000, and the stronger levels at $8200 and $7700.

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BTC/USD, Daily Chart Analysis

As Ethereum is in a different part of its cycle the long-term momentum readings are still overbought, and that could mean a more protracted correction for the second largest coin. That said, following a multi-month consolidation like the one in Ethereum before, we still expect the token to outperform BTC from a long-term technical standpoint. ETH is now below the short-term trendline, and it’s likely to dip below $1000, and the prior top at $850. Further key levels are found at $740, $625, $575, and near $500.

ETH/USD, Daily Chart Analysis

Let’s see the outlook for the other major altcoins after today’s bloodbath.

(more…)

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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Analysis

Crypto Update: Chinese Crackdown Triggers Next Leg of Correction

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The cryptocurrency segment is crashing again, with double-digit losses across the board, and with several coins shedding around 30% in one day amid the widespread and heavy selling. The sell-off was triggered by reports on a new set of measures by the Chinese authorities limiting crypto trading, which added to the still looming South Korea related regulation worries. Bitcoin tested the mini-crash lows at $11,300 today in early trading, dipping slightly below that level before a strong bounce started.

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The most valuable coin is now between two crucial support/resistance lines, with the other ahead at $13,000, and as the downtrend is entering its more mature phase the $10,000 and $9,200 levels could come in play, with a possible dip to the support zone near $7,650.

BTC/USD, Daily Chart Analysis

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Interestingly, the coin is still hovering within the daily range of the crash of December 22nd, and that points to a very active and volatile period ahead near the low at $11,300, as automatic orders will likely get triggered on both sides of the market.

The short-term setup is bearish, and although it’s possible that the primary support level will hold, odds still favor another leg lower, following the exponential run-up at the end of last year that pushed sentiment into bullish extremes.

BTC/USD, 4-Hour Chart Analysis

Altcoins

(more…)

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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Analysis

Music: One Overlooked Use Case

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So far in this year, Ethereum has been the crypto star appreciating over 80% to a recent record of $1402. All this suggests that more and more applications are being created. We know this by the demand for Ether, the gas that drives the Ethereum network.

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The reason behind the explosion of Ether demand was confirmed by Ethereum co founder Steven Nerayoff in a CNBC interview where he claimed the number of Ethereum projects today is more than 10 times year ago levels.

One of those areas is the music business and there are several names appearing on the ICO list to add to your research agenda.

Why The Music Business Needs Help

Music may live forever but the business side has been in trouble for a long while. Over the last decade there have been only three years when the global value of music sales increased. The combination of digital music and outright pirating through peer-to-peer sharing has much to do with the long-term trend.

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Throughout the world there are 69 copyright and royalty societies given the responsibility of documenting, collecting and distributing music royalties. That means collecting a few pennies whenever a song is played on the radio, Internet or anywhere else. Four of the largest of these is in the US, followed by Japan, Germany and Britain. Their operations are truly byzantine.

Experts in the music-publishing field confirm the time between music usage and royalty payment can run close to 24 months. Even then not all royalties are distributed. According to my sources, there are often millions of dollars collected by royalty authorities everywhere that never make it to the entitled recipients. That sort of practice borders on criminal behavior but copyright and royalty societies operate in a sub-rosa manner making it difficult to understand their policies.

In the past just 4 major record labels controlled over 80% of the industry. These giants could afford a full time legal department to pursue royalty issues dominated the music industry. Today, however, independent labels represent almost one-third of the market. This means less democracy in the business with the young independent artist at a particular disadvantage.

Of course, musicians aren’t the only group of artists loosing out on their pay. There are writers, poets and painters that go largely unprotected.

The music business is just easier to track because it has more data. Yet in spite of all the information, the music industry is widely recognized for its lack of transparency. Blockchain technology has the ability to disrupt long-standing industry practices.

ICOs To The Rescue

The number of Ethereum based white knights is starting to appear on the horizon promising to rattle the industry and hopefully restore some democracy on behalf of the independent artist.

One simple business model comes from a startup SingularDTV who is attempting to build their ecosystem on top of Ethereum. Here is the basic value added proposal.

SingularDTV tokenizes the artist work. In doing so the artist is turning their music into a financial asset. Anyone who buys into an artist’s token owns a share of the creation and its income stream. The more people consume an artist creation, the higher goes the token price.

Only time will show if SingularDTV succeeds with this model. The consequence of this model is how it eliminates many of the middlemen and nefarious influences in the industry. Instead of singing on a street corner for bread, an artist could raise money upfront without relying on an advance from a record label.

According to SingularDTV, distributing content via blockchain would allow artists to skirt streaming platforms like Spotify to earn royalties on their own terms. Now that is true democracy.

SingularDTV may stand out a bit in the news due its recent ICO success in raising $8 million but they aren’t the only player in the music game. Names like Voise recently raised $1 million as well as Soundchain, Blokur and Opus to name a few.

I am no longer a registered investment advisor, which means I don’t go around making investment recommendations. So I will only suggest this group to put on your list of late night reading. Next time, I will take a closer look at more of these names.

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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