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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: Ripple/Ethereum

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The Ripple/Ethereum (XRP/ETH) pair took out resistance of 0.0015 on September 18, 2018. This triggered the breakout from a large double bottom structure on the daily chart. The price movement attracted breakout traders and trend followers. This enabled the pair to climb to as high as 0.0034179 on September 21.

While we did miss the breakout, there was no reason to chase the breakout rally. After all, breakout rallies always fade. This is something that we’ve seen over the last few weeks in the crypto market. The key is to wait for the market to consolidate and show us a continuation pattern. We’re seeing that now in Ripple/Ethereum.

Technical analysis shows that XRP/ETH is creating a bullish flag on the daily chart. Looking at this pattern, we can see that the pair is consolidating between 0.0020 – 0.0025. With the range established, we can start accumulating positions at the support.

In addition, the consolidation has allowed technical indicators to cool off. XRP/ETH is now out of extreme overbought territory on the daily chart. Also, volume has significantly declined. This is a characteristic of a bullish pullback. The decline in volume can be attributed to sellers losing ammunition over time.

The strategy is to buy as close to 0.0020 as possible. As long as the market is above this level, it has the momentum to climb to our target of 0.0035.

The process may take more than a month.

Daily Chart of Ripple/Ethereum on Binance

As of this writing, the Ripple/Ethereum pair is trading at 0.00213541 on Binance.

Summary of Strategy

Buy: As close to 0.0020 as possible.

Target: 0.0035

Stop: 0.0019

 

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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3.7 stars on average, based on 248 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: TRON

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The TRON/Bitcoin (TRX/BTC) dropped to as low as 0.00000259 on August 16, 2018. At that price level, the market was down by over 87% from the 2018 peak of 0.00002047. Fortunately for TRX/BTC, 0.0000026 is a buy zone. Bulls used this level back in December 2017 as a staging ground to launch its parabolic run. Now, we’re seeing bulls use it to reverse the market’s trend.

Technical analysis shows that TRX/BTC took out resistance of 0.00000375 on October 7, 2018. This triggered the breakout from an inverse head and shoulders pattern on the daily chart. The breakout looked convincing as well. On October 7, the market printed volume that’s over 156% of its daily average. The price action attracted breakout traders who helped push the pair to 0.00000429 on October 9.

The rally, however, was seen as an opportunity by those who bought the bottom to take profits. As a result, TRX/BTC dropped to 0.00000333 on October 11. This price movement may be concerning because the pair went below the breakout level. The good news is the 30-day moving average came to the rescue as it acted as a reliable support. Bulls relied on it to lift the market above the breakout.

In addition, the daily RSI appears to be already in an uptrend. It has been generating a series of higher highs and higher lows indicating that bulls are gaining significant strength.

The strategy is to buy the breakout as close to 0.00000375 as possible. As long as the market is above this level, it will attract more breakout traders and bargain hunters. They will help push TRX/BTC to our target of 0.0000048.

The process may take a month.

Daily Chart of TRON/Bitcoin on Binance

As of this writing, the TRON/Bitcoin pair is trading at 0.00000386 on Binance.

Summary of Strategy

Buy: The breakout as close as 0.00000375 as possible.

Target: 0.0000048

Stop: 0.0000035

 

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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3.7 stars on average, based on 248 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: Lisk/Ethereum

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The Lisk/Ethereum pair (LSK/ETH) took out resistance of 0.01 on August 15, 2018. This enabled the market to break out from the large falling wedge on the daily chart. The breakout ignited a rally that saw the pair climb to as high as 0.01952549 on September 9. In less than a month, LSK/ETH grew by over 95%.

The tremendous surge in such a short period of time emboldened breakout players and bottom pickers to take profits. As sellers dumped positions, the market dropped to 0.01366334 on September 22. The good news is that this dump is giving us an opportunity to buy the dip. Those who missed the breakout rally can get in while the market is still in the early stages of its bull run.

Technical analysis shows that LSK/ETH is creating a bullish flag on the daily chart. It appears that the consolidation is still ongoing and a breakout is not yet on the horizon. Actually, the market just respected the resistance of the flag. This provides us with the chance to bottom fish the market.

In addition, the daily RSI is also respecting immediate resistance of 56. This is another clue that LSK/ETH has more downside potential before it can resume its uptrend.

The strategy is to buy on dips as close to 0.012 as possible. LSK/ETH has a firm support at that level. The market will likely use it to stage a breakout rally. Once the breakout from the pattern is complete, the pair will likely move to our target of 0.025.

The process may take more than a month.

Daily Chart of Lisk/Ethereum on Binance

As of this writing, the Lisk/Ethereum pair is trading at 0.0143 on Binance.

Summary of Strategy

Buy: As close to 0.012 as possible.

Target: 0.024

Stop: 0.011

 

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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3.7 stars on average, based on 248 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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