Connect with us

Recommendations

Trade Recommendation: LBRY Credits

Published

on

The LBRY Credits/Bitcoin pair broke out of the 0.00007 resistance level on January 8, 2018 to kickstart its bull run. It went as high as 0.00008972 on January 12 before succumbing to profit taking. Those who bought when the market breached 0.00007 took the opportunity to dump their positions. As selling commenced, the market broke below 0.00007 on January 16.

While the dip may look bearish to others, it is actually healthy because new buyers are coming in to absorb the selling pressure. The market’s value may significantly decline during this period, but the dip is temporary. Once supply dries, the market will resume its ascent. The key is to wait for signs of stability and inactivity.

Technical analysis reveal that the LBRY Credits/Bitcoin pair is flashing signs of stability and inactivity. The market appears to be creating a bullish higher low at 0.00005. In addition, volume has been below average since January 24. This is an indication that supply is starting to dry.   

The strategy is to buy as close to 0.00005 support as possible. Once selling is over, the market will likely revisit our target of 0.00007. The whole process can take about a month.

Daily Chart of LBRY Credits/Bitcoin on Poloniex

As of this writing, the LBRY Credits/Bitcoin pair is trading at 0.00005162 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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
2 votes, average: 5.00 out of 52 votes, average: 5.00 out of 52 votes, average: 5.00 out of 52 votes, average: 5.00 out of 52 votes, average: 5.00 out of 5 (2 votes, average: 5.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.6 stars on average, based on 223 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.




Feedback or Requests?

Recommendations

Trade Recommendation: Monero

Published

on

The Monero/US Dollar pair (XMR/USD) climbed as high as $469.50 on December 20, 2017. This marked the end of an impressive bull run that saw the pair grow by more than 700% in four months. From this point, the XMR/USD has been in a downward spiral. The good news is that a significant bounce is on the horizon.

Technical analysis reveal that XMR/USD is showing signs of a potential rally. First, we see the pair about to hit the apex of the large falling wedge on the daily chart. This pattern is so large that it is also visible on the weekly chart.

A quick look at the falling wedge shows that the market always bounces when it drops to the support. The market is currently sliding down the support side of the wedge. This gives us reason to believe that a bounce is in play.

On top of that, XMR/USD is also about to touch its long-term support. This trend line has existed since March 2017. The strength of this support should make it difficult for bears to push the price further down.

Lastly, we can see a bullish divergence on the daily RSI. This tells us that XMR/USD is gaining momentum. This signal also affirms our arguments that the support will hold and that will lead to a significant bounce.  

The strategy is to buy as close to $80 as possible. Should bulls hold on to this key support, they will likely inspire a rally to our target of $125.

The process may take less than a month.

Daily Chart of Monero/US Dollar on Kraken

As of this writing, the XMR/US Dollar pair is trading at $82.59 on Kraken.

Summary of Strategy

Buy: Buy as close to $80.00 as possible.

Target: $125

Stop: $75

 

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
2 votes, average: 3.00 out of 52 votes, average: 3.00 out of 52 votes, average: 3.00 out of 52 votes, average: 3.00 out of 52 votes, average: 3.00 out of 5 (2 votes, average: 3.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.6 stars on average, based on 223 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.




Feedback or Requests?

Continue Reading

Recommendations

Trade Recommendation: Aeternity

Published

on

The Aeternity/Bitcoin (AE/BTC) pair surprised investors when it went as high as 0.0006333 on April 29, 2018. Before that move, AE/BTC was trading at a low of 0.000159 on March 18. This means that those who bought at the low grew their investments by over 300% in less than a month.

Unfortunately for buyers at 0.0006333, participants exploited the pump. The market has been dropping since. Nevertheless, it appears that AE/BTC is ready for bottom picking.

Technical analysis show that AE/BTC is trading inside a large falling wedge. The pattern is about to hit the apex just as it is about to touch the line in the sand of 0.000165 support.

Call it coincidence, market psychology, or manipulation. What’s important is that we know that 0.000165 is an area where demand exceeds supply. This is the staging ground that kickstarted the bull run earlier this year when the market surged to 0.0006333. This tells us that the “smart money” likes to buy at this price level.

The strategy is to buy as close to 0.000165 support as possible. If our assumption is true, then the “smart money” or the “whales” will start buying at this level. They will also defend on the support to protect their positions. This should spark a rally to our initial target of 0.0002532.

The process can take less than one month.

Daily Chart of Aeternity/Bitcoin on Binance

As of this writing, the Aeternity/Bitcoin pair is trading at 0.000176 on Binance.

Summary of Strategy

Buy: As close to 0.000165 as possible.

Target: 0.0002532

Stop:  0.000159

 

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.6 stars on average, based on 223 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.




Feedback or Requests?

Continue Reading

Recommendations

Long-Term Trade Recommendation: ZRX

Published

on

The 0x/Bitcoin (ZRX/BTC) pair looks bearish short-term, but it looks quite the opposite in the medium and long-term. The drop from 0.00018629 resistance appears to be a “buy on dip” rather than a full-blown correction. We have the technicals to support our view.

Technical analysis show that ZRX/BTC is trading within a wide ascending channel in the daily and weekly charts. The structure looks strong because it is not widening nor contracting. On top of that, the higher highs and higher lows are generated as a result of healthy consolidations and corrections. The symmetrical triangle pattern emerging in the daily chart is proof of this healthy consolidation.

Currently, the symmetrical triangle pattern appears to be completing the C-wave, which is often the penultimate leg down before the breakout. ZRX/BTC needs to complete two more waves before it can break out of the pattern and resume its climb to the top end of the range. Triangles take time to complete, which is why this is a long-term trade recommendation.

The strategy is to buy as close to 0.00012 as possible. If bulls preserve the long-term support, they will inspire a rally to our initial target of 0.00017. We expect one more leg down before ZRX/BTC can climb to our longer term target of 0.00025.

The process may take three months.

Long-Term Chart of 0x/Bitcoin on Binance

As of this writing, the 0x/Bitcoin pair is trading at 0.00013570 on Binance.

Summary of Strategy

Buy: As close to 0.00012 as possible.

Target: 0.00025

Stop:  0.0001

 

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.

Rate this post:

Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way.
0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.6 stars on average, based on 223 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.




Feedback or Requests?

Continue Reading

5 of 15 Seats Available

Learn more here.

Recent Comments

Recent Posts

A part of CCN

Hacked.com is Neutral and Unbiased

Hacked.com and its team members have pledged to reject any form of advertisement or sponsorships from 3rd parties. We will always be neutral and we strive towards a fully unbiased view on all topics. Whenever an author has a conflicting interest, that should be clearly stated in the post itself with a disclaimer. If you suspect that one of our team members are biased, please notify me immediately at jonas.borchgrevink(at)hacked.com.

Trending