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Trade Recommendation: IOTA

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The price bounced from the uptrend line and moved above the cloud. It gives us a new trading opportunity. Pending orders for buy can be placed at 4.35 level with stop orders at 3.30 level. The main profit target is 5.50 resistance level. The rest of trade volume can be closed at 7.00 level. DMI supports upward movement. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: IOTUSD
Buy: 4.35
Stop: 3.30
Profit Targets: 5.50 and 7.00

The trading signal is based on Bitfinex chart.
Disclaimer: The analyst does not have investments in IOTA.

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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3.3 stars on average, based on 44 rated postsDmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.




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9 Comments

9 Comments

  1. dennisportermb

    January 3, 2018 at 7:49 pm

    Could you please start using BTC/XXX price targets? Many of us crypto traders primarily trade back to BTC. Not USDT.

  2. MinerMatt17

    January 3, 2018 at 8:53 pm

    Agreed. Who the hell trades IOTA with USD.

  3. douglash

    January 3, 2018 at 9:44 pm

    Agree. I’ve also asked for this before. BTC is my benchmark in crypto. Further, USDT itself is suspected by some of being a scam that isn’t fully backed by USD deposits, as Hacked and/or CCN has reported.

  4. Steppa75

    January 3, 2018 at 11:01 pm

    Lol the market is USD not USDT

  5. shawnbishop

    January 4, 2018 at 1:59 am

    Agree.

  6. cfussy25

    January 4, 2018 at 3:14 am

    I personally prefer the USD/USDT pairings.

  7. CryptoNash

    January 4, 2018 at 7:52 am

    I also prefer USD/USDT

  8. bukuk

    January 4, 2018 at 7:58 am

    Many of your followers from outside u.s i believe, and i’m also not from u.s so i think better using xxx/btc pairing.

  9. dahtr13

    January 4, 2018 at 10:07 am

    Both would be good and easy to accommodate

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Trade Recommendation: Bread

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We’ve been watching Bread (BRD/BTC) ever since it bottomed out around the support of 0.00004525. At that point, we knew that the market has transitioned from markdown to accumulation. The smart money accumulated positions as the market range traded between 0.00004525 and 0.00006314.

While there were several instances when Bread breached the range high of 0.00006314, every single move was taken as an opportunity to lock in gains. As a result, the market always returned to our range. Nevertheless, we believe that it is only a matter of time before Bread finally breaks out of the range.

Technical analysis shows that BRD/BTC is almost ready to start a bull run. This view comes after the market gave us several bullish signals.

First, Bread established a bottom using a triple bottom structure. This is a very convincing pattern to show market participants that the price won’t like to fall any further than the range low of 0.00004525.

With this pattern, bulls started to gain some momentum. They first established a bullish higher low setup on November 20, 2018 when the market dropped to as low as 0.00004886. This was a clear signal that bargain hunters and bottom pickers were ready to buy positions at a higher price.

This enabled the market to finally claim the range midpoint of 0.00005413 on January 18, 2018. At that point, Bread has been in accumulation for over 170 days. The length of accumulation time plus the move to the range midpoint convince us that the market’s next step is to take out the range high and trend higher.

The strategy is to buy as close to 0.00005413 support as possible. As long as BRD/BTC stays above this level, it will likely gather the momentum to rally to our target of 0.00006314. Take that out and the next target is 0.0000762.

The process may take less than a month.

Daily Chart of Bread/Bitcoin on Binance

As of this writing, the Bread/Bitcoin pair is trading at 0.00005552 on Binance.

Summary of Strategy

Buy: As close to 0.00005413 as possible.

Targets: 0.00006314 and 0.0000762.

Stop: 0.00005225

 

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 310 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: HyperCash

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HyperCash (HC/BTC) is giving us bullish price action. It dropped to as low as 0.0001714 on December 8, 2018. At that point, the market was in danger of breaching support of 0.000175. Bulls struggled for a few days to keep the market above the support. Fortunately on December 11, market participants finally felt that a durable bottom was in.

With a bottom in place, HyperCash ignited a massive rally that enabled the market to take out multiple resistances and climb as high as 0.000553 on January 12, 2019. While the market is currently pulling back, this gives us the opportunity to buy the dip.

Technical analysis shows that HC/BTC is likely to establish a bullish higher low setup of 0.00029. This view comes after the market gave us two solid resistance to support flips.

The first one was on January 15 when the market wicked down to 0.0002502. The strong rejection of lower prices indicates the presence of buyers at that price level. In addition, the 100-day moving average also acted as support and helped to keep the price from falling any further.

The second one was on January 18 when the market wicked down to 0.0002897. The price rejection doesn’t look strong so it is very likely that HyperCash revisits 0.00029 soon.

The market also appears ready to break out from a bullish pattern. Lastly, the market is approaching the apex of a large falling wedge on the 1-hour chart. With sellers losing steam, we expect the market to break out of this pattern once it revisits 0.00029.

The strategy is to buy on dips as close to 0.00029 as possible. As long as HyperCash stays above this level, it will likely gather the momentum to break out of the falling wedge and rally to our target of 0.000366.

The process may take less than a month.

1-Hour Chart of HyperCash/Bitcoin on Binance

As of this writing, the HyperCash/Bitcoin pair is trading at 0.000306 on Binance.

Summary of Strategy

Buy: As close to 0.00029 as possible.

Target: 0.000366

Stop: 0.00028

 

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 310 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: Bancor

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The market structure of Bancor (BNT/BTC) is something that we’ve seen before. It looks like a market trying to carve a bottom.

It all started on December 18, 2018 when the market started to establish support of 0.00014. At that point, Bancor was showing signs of reversal. First, it was trading at oversold levels. On top of that, we saw a large bullish divergence on the daily chart. Also, sell volume was weak. All these signals pointed to bearish exhaustion.

As bears lost steam, bottom pickers and bargain hunters started to enter the scene. The buying activity ignited a rally that sent Bancor to the range high of 0.00023 on January 6, 2019. The market has been correcting since, but this gives us a chance to buy the bottom.

Technical analysis shows that BNT/BTC is en route to support of 0.000141. This view comes after the market breached our range midpoint of 0.0001855. Also, BNT/BTC is creating a bear pennant on the 12-hour chart. This is a continuation pattern that should send Bancor close to our range low of 0.000141.

Should the market once again defend 0.000141, Bancor would print a double bottom pattern. This is a pattern used by many altcoins that have started to trend higher, such as Zilliqa (ZIL/BTC), Dock (DOCK/BTC), and Augur (REP/BTC). We believe BNT/BTC would follow the footsteps of these coins as we begin to see the money rotate from large caps to mid caps and then small caps.

The strategy is to buy as close to 0.000141 as possible. As long as Bancor stays above this level, it will likely gather the momentum to rally to our targets of 0.0001855 and 0.00023.

The process may take a month.

12-Hour Chart of Bancor/Bitcoin on Binance

As of this writing, the Bancor/Bitcoin pair is trading at 0.0001552 on Binance.

Summary of Strategy

Buy: As close to 0.000141 as possible.

Targets: 0.0001855 and 0.00023.

Stop: 0.000135

 

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 310 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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