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Trade Recommendation: HunterCoin

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The uptrend of HunterCoin/Bitcoin that started when the resistance of 0.000045 was broken on April 4, 2017 ended on June 21, as the market generated a lower high at 0.000115. The market plunged faster than its climbed as participants dumped their positions. On July 10, the pair broke critical support at 0.000045, losing over 60% of its value in less than a month.

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The market continued to tumble until it established support at 0.00001 on October 23. After a two-month accumulation period, it broke out of a double bottom structure on December 23. The move effectively reversed the market’s trend and ignited a new bullish run.

Technical analysis reveal that the market has also broken out of a bullish continuation pattern when it breached resistance of 0.000028 on January 09. The pair has even completed a brief pullback and it is currently consolidating to turn 0.000028 resistance into firm support. This sequence is required as it gives the market legs to reach our target of 0.000045.

The strategy is to buy at current market levels. The pair is far from overbought territory and RSI seems to respect support at 58. This suggests that a move up should occur soon.  

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Daily Chart of HunterCoin/Bitcoin on Poloniex

As of this writing, the Huntercoin/Bitcoin pair is trading at 0.00003040 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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4.2 stars on average, based on 59 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.




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2 Comments

  1. Haspel

    January 13, 2018 at 9:47 am

    Isn’t about time for you guys to start watching Binance instead of Polo? Coins on Binance are way more interesting. I’ve never even used Polo.

  2. reseller7

    January 13, 2018 at 6:12 pm

    Plus Binance is the second largest exchange.

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Trade Recommendation: EURAUD

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The bias has turned to the downside for the short term with the price trading below the Daily Pivot Range (blue dots), as well as the 3 Day Rolling Pivot Range (RPR, green dots). These levels provide the near term key resistance range.

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With the Daily Pivot Moving Averages (red,yellow, white lines) turning downward this is further confirmation of the bearish bias. We need to see further confirmation with the price trading below the current swing low of 1.56518.

The action to take is to place a sell stop entry order to enter the market short as the price breaks below the recent low. Place the stop loss just above the swing high level at the Daily Pivot Range low.

Note: If triggered, look for the trade to play out over a period of 24-36 hours and if no significant move after 3 hours, exit the trade.

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Entry Price: 1.5651
Stop Loss: 1.5697
Profit Targets: Grab some quick profits at the First profit target 1.5610. Second profit target is 1.5556. Once first profit target is reached, bring stop loss to breakeven, then trail a stop loss on remaining position 15-20 pips behind to safeguard profits or until second profit target is hit.

 

Disclaimer: Disclaimer: The writer has no positions in the forex markets but does engage in short-term trading of forex and futures.

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 17 rated postsI am the founder of VirtuesTrading.com, where traders can learn to use my Virtues Trading System. Formerly a Commodity Trading Advisor, I got my start in the Energy and Precious Metals Options & Futures pits of the New York Mercantile Exchange. I operate on the premise of efficient markets, the management of risk through the analyzation of price action and technical indicators. I have a BA in International Relations from the University of Southern California.




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Trade Recommendation: PotCoin

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The PotCoin/Bitcoin (POT/BTC) market exhausted its bullishness on July 25, 2017 when it created a lower high of 0.000037. The market unravelled on July 27 when it broke support of 0.0000385. Since then, it created a series of lower highs and lower lows until it bottomed out at 0.00001027 on November 2.

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The market rallied after finding its bottom, and went as high as 0.00003999 on December 1. At this point, however, the pair was in overbought territory, and that forced bottom pickers to dump their positions. Faced with heavy selling pressure, the market went as low as 0.00001594 on December 7. Sensing a lower high was in place, bulls rushed in, and bought positions which pushed the market up to 0.00003849 on December 31. Unfortunately for buyers at this level, bears defended the resistance level, and sent the market down to 0.000016 support.  

Technical analysis show that the PotCoin/Bitcoin pair is currently consolidating while locked in a wide range between 0.000016 and 0.0000385. As of this writing, the market is well on its way to 0.000016 support. We can use the existing range to generate profitable trades.

The strategy is to buy the support and sell the resistance. Buy as close to 0.000016 support as possible. Sell as close to 0.0000385 as possible. Once bulls successfully defend 0.000016, the market will most likely restart its climb to the resistance level of 0.0000385. The process may take about a month.

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Daily Chart of PotCoin/Bitcoin on Poloniex

As of this writing, the PotCoin/Bitcoin pair is trading at 0.00001646 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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4.2 stars on average, based on 59 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.




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Trade Recommendation: BitcoinPlus

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The BitcoinPlus/Bitcoin (XBC/BTC) market lost all bullishness on July 3, 2017 when it generated a lower high of 0.06965. Things went from bad to worse when the pair broke support of 0.05 on July 7. From that point on, it created a series of lower highs and lower lows until it established a bottom at 0.00395018 on November 5.

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Having lost over 94% of its value, the market quickly rallied as soon as it bottomed out. It went as high as 0.01993227 on November 12. The pair flashed overbought readings at this level, and that signalled bottom pickers to take profits. As selling commenced, the market went as low as 0.004113 on December 8. With a lower high in place, the market bounced and reached 0.01255 on January 12, 2018. The more than 200% growth in about a month inspired profit taking which forced the market to pull back.

Technical analysis show that the BitcoinPlus/Bitcoin pair is creating a bullish reversal pattern that is near its breakout point. The two consecutive higher lows are bullish in nature. This suggests that participants are willing to buy positions at a higher price point when the market dips. In addition, Bollinger bands are contracting. This means that bid and ask prices are about to meet with a bullish bias. The contraction may inspire a massive rally.  

The strategy is to buy as close to 0.0072 as possible. When the market breaks above 0.008, it will likely explode to our target of 0.02. The process may take about a month.

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Daily Chart of BitcoinPlus/Bitcoin on Poloniex

As of this writing, the BitcoinPlus/Bitcoin pair is trading at 0.00743219 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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4.2 stars on average, based on 59 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.




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