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Trade Recommendation: Gridcoin Research/Bitcoin

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Gridcoin Research has been struggling to stay above 0.000008 Bitcoin since it broke down that level on September 8 on Poloniex. Although the pair rallied and went as high as 0.00001147 on September 29, bears eventually flexed their muscles, and showed that they controlled the market. They sent Gridcoin Research down to 0.000004 on December 11.

The daily chart shows that the market has never broke support at 0.000004 since it went above that level in September 2015. Using the strong support level, bulls rallied on December 20. Currently, it seems that they are on a mission to take back 0.000008.

Technical analysis reveal that Gridcoin Research has created a bullish reversal pattern, and it is breaching 0.000008 resistance. The market is not in overbought territory, so it has plenty of room to make a move up. In addition, the pair is also coming out of a throwback after generating a new higher low at 0.00000656.

Strategy is to buy around 0.000008. A successful breakout at this level reverses the market’s downtrend, and gives us a target of 0.000012.

Daily Chart of Gridcoin Research/Bitcoin on Poloniex

As of this writing, the Gridcoin Research/Bitcoin pair is trading at 0.00000789 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.

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3.8 stars on average, based on 288 rated postsKiril is a CFA Charterholder and financial professional with 5+ 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.




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Trade Recommendation: Ambrosus

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We’ve been keeping tabs on Ambrosus (AMB/BTC) since it managed to create a short-term bottom of 0.00001595 on September 12, 2018. With a bottom in place, Ambrosus had space to rally. That’s exactly what it did.

Ambrosus gathered the momentum required to climb as high as 0.00003511 on October 21. Like many of the altcoins we’ve included in our trade recommendations, Ambrosus was not yet ready to launch a bull run. So, it corrected back to range support. The market may not be bullish yet but we may have an opportunity to profit from this sideways trading.

Technical analysis shows that AMB/BTC has once again respected range low of 0.000016. The ability of Ambrosus to stay above this area tells us that the smart money is very likely to be in accumulation mode. If they are, they appear to be accumulating under favorable conditions.

A quick look at the 1-hour chart reveals that AMB/BTC is about to get an important golden cross with the 100 moving average crossing over the 200 moving average. On top of that, we can see bullish divergences on the daily chart, 12-hour chart, and 4-hour chart. These indicators tell us that Ambrosus is turning bullish.

The strategy is to buy as close to 0.000016 support as possible. As long as bulls stay above this level, Ambrosus will likely rally to our initial target of 0.000023. Take that out and the next target is 0.00003.

The process may take less than a month.

Daily Chart of Ambrosus/Bitcoin on Binance

As of this writing, the Ambrosus/Bitcoin pair is trading at 0.00001682 on Binance.

Summary of Strategy

Buy: As close to 0.000016 as possible.

Targets: 0.000023 and 0.00003.

Stop:0.0000156

 

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.

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3.8 stars on average, based on 288 rated postsKiril is a CFA Charterholder and financial professional with 5+ 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.




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Trade Recommendation: Gifto

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Gifto (GTO/BTC) came off lows of 0.00000606 on December 11, 2018. At that point, the market was down by over 91% from the 2018 peak of 0.00007499. With such a huge drop, it is easy to assume that Gifto is deep in bear territory. However, a closer look at the daily chart shows that we may be looking at a market that’s transitioning from a down trend to a more sideways trend.

Technical analysis shows that GTO/BTC may have established a short-term bottom at 0.00000615. The market dropped to just below this level on November 20 and bulls immediately rejected lower prices. This led to a strong rally to 0.00000914 on December 5.

Bottom pickers used this rally to lock in quick gains. As expected, the market pulled back. Nevertheless, Gifto’s ability to stay above 0.00000615 support is bullish in the short-term. This price action has created a double bottom pattern on the lower time frames. If you look at other altcoins that have recently pumped, such as Waves (WAVES/BTC), Ambrosus (AMB/BTC) and Ripple (XRP/BTC), you will see that they also used the same double bottom pattern on the lower time frames to generate an immense rally.

The strategy is to buy as close to 0.00000615 as possible. As long as bulls stay above this level, Gifto is in a great position to pump to our target of 0.00000783. Take that out and the next target is 0.0000095.

The process may take less than a month.

Daily Chart of Gifto/Bitcoin on Binance

As of this writing, the Gifto/Bitcoin pair is trading at 0.00000644 on Binance.

Summary of Strategy

Buy: As close to 0.00000615 as possible.

Targets: 0.00000783 and 0.0000095

Stop:0.00000605

 

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.

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3.8 stars on average, based on 288 rated postsKiril is a CFA Charterholder and financial professional with 5+ 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.




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Trade Recommendation: SelfKey

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We’ve been watching Selfkey (KEY/BTC) for some time now. It started to become interesting for us when bulls showed their hands on August 14, 2018. At that point, the market dropped to as low as 0.00000066. KEY/BTC generated a hammer candle with a long wick below the body, which indicated the rejection of lower prices. On the next day, August 15, Selfkey printed a large green candle that sent the market to as high as 0.00000112.

The price action told us that 0.0000007 is bull territory.

This happened again on September 12 when Selfkey touched 0.00000071. Bulls rejected lower prices and sparked a rally that saw the market climb as high as 0.00000154 on October 29. This is where bears showed their hand. They aggressively sold at these levels to drive the market down.

The price movement in the last few months has given us the confidence to enter the market.

Technical analysis shows that KEY/BTC is in sideways consolidation. Participants are accumulating positions as the market ranges between 0.0000007 and 0.00000116 with a midpoint at 0.00000093. With this range, we can easily buy the support and sell the resistance again and again until the market breaks out of range resistance.

The strategy is to buy as close to 0.00000067 as possible. We’ll buy below the range support because market makers may shake out bottom pickers. Ideally, what we want to see is a hammer candle and a retest of 0.0000007 support on the hourly chart. If we can get that, the market can easily rally to range midpoint of 0.00000093.

The process may take less than a month.

Daily Chart of Selfkey/Bitcoin on Binance


As of this writing, the Selfkey/Bitcoin pair is trading at 0.00000072 on Binance.

Summary of Strategy

Buy: As close to 0.00000067 as possible.

Targets: 0.00000093

Stop:0.00000065

 

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.

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3.8 stars on average, based on 288 rated postsKiril is a CFA Charterholder and financial professional with 5+ 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.




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