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Trade Recommendation: Litecoin

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The price bounced from the support zone formed by the uptrend line, SMA100 and 84.00 support level. RSI confirms price reversal. MACD histogram supports upward movement. We have a new trading opportunity. Pending orders for buy should be placed above the downtrend line and 100.00 resistance level. If the market breaks these barriers, we’ll get a signal confirming further upward movement. Stop orders must be placed below the local swing low at 82.80 level. Profit targets can be 120.00 and 150.00 levels. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: LTCUSDT
Buy: 101.00
Stop: 82.80
Profit Targets: 120.00 and 150.00

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The trading signal is based on Poloniex chart.
Disclaimer: The analyst are some invested in Litecoin.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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3 Comments

3 Comments

  1. betom

    December 8, 2017 at 7:30 pm

    Thx! sell $122 usd

    • saxonlucius

      December 10, 2017 at 3:56 am

      You were totally right about Litecoin. I should have bought. I knew it was going to happen. Everything is so volatile now. Altcoins are doing well. Do you think litecoin will go higher? I don’t know. If Bitcoin does, it will. I wonder how Bitcoin will do.

  2. 453434344

    December 8, 2017 at 10:00 pm

    I spotted this call earlier in my feed from Hacker – though I am not a member (until about 10 mins ago)… I figured a top was in in BTC and the market was behaving nervously so I got out at 16,600 – thoguht straight away to look at LTC and pop it in there for a bit , assuming that there would be a rotation out of BTC into there… Your trade recommendation popped up… I am sitting on my 150% increased pile of cash from BTC and about to make the LTC order… and I went to the gym to “think about it”.

    When I returned, LTC up 37%. Damn.

    So I just subscribed, I will stick around and learn more from you guys. Good call.

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Cryptocurrencies

Trade Recommendation: IOTA

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If the price bounces from the support zone formed by SMA100 and 3.00 level, we should expect for continuation of the uptrend. When the price breaks the downtrend line, we’ll get a buy signal and an additional confirmation of further upward movement. Pending orders for buy can be placed above the local swing high at 4.10 level with stop at 3.30 level. Profit targets are 5.00 and 8.00 levels. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

Market: IOTUSDT
Buy: 4.10
Stop: 3.30
Profit Targets: 5.00 and 8.00

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

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Cryptocurrencies

Trade Recommendation: Ethereum

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The market is overbought and we have to expect for a correction. The price can bounce from the resistance zone formed by the downtrend line and 700.00 resistance level and continue downward movement. But we also know that sometimes crypto markets move out of logic. We must be ready to catch a new strong upward movement to new highs. Is it possible? I think yes and Bitcoin confirms it. We can use a breakout above the resistance zone for opening long trades. Entry level is 708.00 with stop orders at 670.00 level. Profit targets should be 750.00 and 800.00 levels. This is high risk trade and the best entry levels are much lower. Don’t invest too much in this market now. It’s better to wait for a good correction and buy based on solid reversal signals. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: ETHUSDT
Buy: 708.00
Stop: 670.00
Profit Targets: 750.00 and 800.00

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The trading signal is based on Poloniex chart.
Disclaimer: The analyst are some invested in Ethereum.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Recommendations

Trade Recommendation: OMNI/BTC Range Trade

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There are many cases when the market goes bearish after generating an all-time high. That’s the case for OMNI/BTC. It posted an all-time high of 0.04824320 on the Poloniex exchange on May 31, 2017. In doing so, it created a massive wick above its body, indicating the presence of sellers at that level. The market tried to sustain its ascent, but it turned bearish after failing to hold support at 0.02 on July 9, 2017. OMNI/BTC is still in a downtrend but there’s an opportunity to make a quick buck.

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Technical analysis reveal that the market is currently holding long-term support at 0.0025. Every time the pair hits that support level, it bounces and takes out resistance at 0.010. It also breached resistance at 0.015 on three separate occasions. In addition, RSI is also respecting long-term support level. On top of that, the market is already up 12.23% as of this writing. Indicators are flashing a legitimate bounce.

The strategy is to trade the range. Buy zone is between 0.0025 and 0.005. The target range is from 0.010 to the top end of 0.015. Sell midpoint if selling pressure is high; otherwise, ride until 0.015.

Take note: the market is still in a downtrend, but you can make money by buying low and selling high during the consolidation period.

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Weekly OMNI/BTC Chart on Poloniex

As of this writing, OMNI/BTC is trading at 0.00354581 on Poloniex.

Summary of Strategy

Buy: 0.0025 and 0.005

Targets: 0.010 and 0.015

Stop: move below 0.0025

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 money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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