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Trade Recommendation: Hshare/Bitcoin

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The Hshare/Bitcoin (HSR/BTC) pair flashed signs of bullishness on December 18, 2017 when it took out resistance of 0.0012. The breakout attracted trend followers and momentum traders who helped push the market to as high as 0.002667 on December 31. In two weeks, the pair grew by over 122%. Those who bought the breakout started to take profits.

With sellers dominating the market, HSR/BTC snapped the 0.00178 support on January 2, 2018. From that point, the market turned increasingly bearish as it posted a series of lower highs and lower lows until it bottomed out at 0.00616 on March 18. The pair has been rallying since and it looks ready to start a another bull run.

Technical analysis show that Hshare/Bitcoin is poised to take out resistance of 0.0012 and trigger the rounding bottom reversal pattern on the daily chart. To complete the breakout, the pair must print at least 1.2 million units of Hshare. Those who bought the bottom are likely to take profits at the resistance. The market needs buyers to offset the increased selling activity.

The strategy is to buy the breakout at 0.0012 after the required volume is met. If bulls take out the resistance, they may ignite a rally that takes the market to our target of 0.001780. Sell immediately because the market will most likely correct at that level before resuming its bull run.

The process may take a month.

Daily Chart of HSR/BTC on Binance

As of this writing, the Hshare/Bitcoin pair is trading at 0.001118 on Binance.

Summary of Strategy

Buy: Breakout at 0.0012 with volume of 1.2 million units of Hshare.

Target: 0.00178

Stop: 0.001125 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.

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3.8 stars on average, based on 308 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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4 Comments

4 Comments

  1. manuguny

    April 27, 2018 at 6:37 pm

    Hi,
    you say to Buy the Breakout at 0.0012 with a volume of 1.2 million units of Hshare but today is Friday and only half of the target volume and already units are pumping these last 12 hours for more than 15% reaching 0.001294 today when 2 days ago we were at 0.0010 even less…So, the units are bullish now or will bullish at 1,2 volume? thanks to clarify
    Manu

  2. manuguny

    April 27, 2018 at 6:48 pm

    pumping again now almost 0.0014….so is going to reach in 3 days 40%….
    I think you should update your recommendations when a situation is strongly changing as it is now.

  3. manuguny

    May 5, 2018 at 12:16 pm

    Hi, you did not get my comment…feedback? 😉

  4. Kiril Nikolaev

    May 5, 2018 at 6:18 pm

    Thanks for the feedback. The target was already hit on this one.

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Trade Recommendation: NEO

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NEO (NEO/USD) looks like a market that wants to break out of accumulation. The market started the accumulation process on December 7, 2018 when it established support of $5.50. This crypto traded around that level for a couple of weeks until a surge in volume showed participants that the market was ready to move higher. The volume uptick ignited a rally that sent the market to as high as $9.36 on December 24, 2018.

If the market was still bearish, NEO would have dumped back down to $5.50 support or even went below it. However, the market generated a higher low set up of $6.92 on December 28, 2018. That was enough for many to start placing long positions in the market.

Technical analysis shows that NEO/USD breached resistance of $9 on January 8, 2019. This triggered the break out from an inverse head and shoulders pattern on the shorter time frames. As a result, the market rallied to as high as $10.08 on January 9.

While NEO is currently pulling back, the rally gave the market its first higher high in months. If NEO can stay above support of $7.30, the market’s sentiment will turn from neutral to slightly bullish.

The strategy is to buy on dips as close to $7.30 support as possible. The 100 moving average on the 12-hour chart as well as the 200 moving average on the 4-hour chart are crawling around that price area. They will help keep the price above the support.

Should the price manage to stay above $7.30, the market will likely generate the momentum to rally to our target of $9.00. Take that out and the next target is $13.50.

The process may take a less than month.

12-hour Chart of NEO/US Dollar on Binance

As of this writing, the NEO/US Dollar pair is trading at $7.86 on Bitfinex.

Summary of Strategy

Buy: As close to $7.30 as possible.

Targets: $9.00 and $13.50.

Stop: $7.10

 

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 308 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: Komodo

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Komodo (KMD/BTC) printed a fresh 2018 low of 0.00013 on November 24. At that price, the market lost almost 90% of its value from last year’s high of 0.0012598. More importantly, KMD/BTC breached the line in the sand of 0.000154. This means that the market had no known support below that level. In other words, there was no way of knowing when Komodo might bottom out.

Thus, we had to wait for one of two things to happen for this coin to become tradeable. The first is to wait for the market to establish a new support. The second is to see whether the market can reclaim 0.000154. Fortunately, Komodo preferred the second option.

After reclaiming 0.000154, it rallied to as high as 0.0002509 on December 31. While the market is currently pulling back, it is giving us the opportunity to buy the bottom end of the range.

Technical analysis shows that KMD/BTC is headed to support of 0.000154. This view comes after the market broke below the range midpoint of 0.0001968 on January 6, 2019. Komodo then retested it as resistance on January 10.

On top of that, Komodo is also forming a bear flag on the shorter time frame. This suggests that the continuation of the short-term bearish trend. Also, the market just breached its diagonal support while creating the bear flag. With this breakdown, we can form the expectation that Komodo is going down to the range low.

The strategy is to be patient and buy as close to 0.000154 support as possible. As long as KMD/BTC stays above this level, we are correct to assume that the market is currently trading sideways. Thus, after accumulation at the range low, Komodo will likely climb to our initial target of 0.0001968. Take that out and the next target is 0.000239.

The process may take a month.

Daily Chart of Komodo/Bitcoin on Binance

As of this writing, the Komodo/Bitcoin pair is trading at 0.0001791 on Binance.

Summary of Strategy

Buy: As close to 0.000154 as possible.

Targets: 0.0001968 and 0.000239.

Stop: 0.000148

 

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 308 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: WINGS

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WINGS (WINGS/Bitcoin) bounced off lows of 0.00001702 on September 12, 2018. At that price level, the market lost over 90% of its value from last year’s peak of 0.00018. Nevertheless, the heavy losses inspired bottom pickers and bargain hunters to come together and start a buying frenzy. This ignited a strong rally that enabled WINGS to take out the top end of the range of 0.00003088 and climb as high as 0.00004173 on November 7.

At that point, WINGS needed to flip 0.00003088 resistance into support in order to trend higher. Unfortunately, bears reclaimed the resistance as market participants took advantage of the rally to lock in gains. This sparked a selling activity that saw WINGS drop to our range low. The good news is this allows us to bottom pick the market.

Technical analysis shows that WINGS/BTC is trading sideways. This view comes after the market respected our range low of 0.0000184. With bulls successfully defending the support, we now have a double bottom pattern on the daily chart. This tells us that a durable low is in.

In addition, the drop to the bottom end of the range has given technical indicators the time they need to cool off. The daily RSI is far from overbought territory. Also, we can see how volume significantly declined ever since WINGS tapped the range high. This tells us that the market’s sentiment is shifting from profit-taking to base-building.

The strategy is to buy as close to 0.0000184 support as possible. As long as WINGS/BTC stays above this level, it will likely gather the momentum to rally to our target of 0.00002458. Take that out and the next target is 0.00003088.

The process may take a month.

Daily Chart of WINGS/Bitcoin on Binance

As of this writing, the WINGS/Bitcoin pair is trading at 0.00002004 on Binance.

Summary of Strategy

Buy: As close to 0.0000184 as possible.

Targets: 0.00002458 and 0.00003088.

Stop: 0.0000177

 

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 308 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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