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Trade Recommendation: MaidSafeCoin/Bitcoin

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The MaidSafeCoin/Bitcoin pair lost all bullishness when it generated a lower high of 0.000237 on June 7, 2017. Things went from bad to worse when the market broke support of 0.00016 on July 10. The pair lost of its over 17% of its value when it opened at 0.00016802 and closed at 0.00013844 on that day. From that point, the market nosedived and created one lower low after another. It took the market five months to stabilize.

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On December 12, the pair established support at 0.000027. After such a catastrophic downfall, the market rallied hard when it bounced on December 18. By January 1, 2018, the market went as high as 0.00008978. The pair’s quick ascent was exploited by those who bought at the bottom. The market retreated as bottom pickers took profits. Nevertheless, this dip is your opportunity to buy cheap.

Technical analysis show that the market is forming a bullish higher low set up at 0.000057. The consolidation period is key as it enables new buyers to enter the market. After sellers dump positions, the market will most likely resume its march towards resistance of 0.00008.

The strategy is buy as close to 0.000057 support as possible. Should bulls successfully defend this support level, we have a target at 0.00008. That could be reached in one month.

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Daily Chart of MaidSafeCoin/Bitcoin on Bittrex

As of this writing, the MaidSafeCoin/Bitcoin pair is trading at 0.00005882 on Bittrex.

 

 

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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4.3 stars on average, based on 68 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: Vcash

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The Vcash/Bitcoin (XVC/BTC) pair lost all bullishness on September 13, 2017 after failing to close above 0.0002 resistance. The strength of the bears was so strong that the market went as low as 0.0000333 on October 23. In a little over a month, the pair lost over 83% of its value.

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However, the market quickly rallied even though some would expect that it will continue to plunge. On November 5, the XVC/BTC pair went as high as 0.00012, which is a 260.36% growth from its bottom. Bottom pickers took advantage of the rapid rise and dumped positions. As a result, the market went as low as 0.00003501 on December 12. It appears that at this point, the market has already established its range.  

Technical analysis show that the Vcash/Bitcoin pair is consolidating in a wide range between 0.000035 support and 0.00008 resistance. On January 15, 2018, it again pierced 0.00008 resistance but bears claimed that level. Now, the pair is on its way down to 0.000035.  

The strategy is to buy as close to 0.000035 as possible. If bulls respects 0.000035, the market will likely rally again to 0.00008. The process may take a month.

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Daily Chart of Vcash/Bitcoin on Poloniex

As of this writing, the Vcash/Bitcoin pair is trading at 0.00004111 on Poloniex.

Summary of Strategy

Buy: 0.000035

Target: 0.00008

Stop:  0.0000333

 

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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4.3 stars on average, based on 68 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: Ethereum

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This trade recommendation is setting up quickly and requires prompt attention

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This is a short term trade. With the Daily Pivot Range (blue dots) tightly aligned with the similarly tight 3 Day Rolling Pivot Range (RPR) (green dots), the bias is strongly to the upside and therefore this level is key support.

The Daily Pivot Moving Averages are turning upward and are mildly bullish.

The action to take is to place a buy order to enter the market long if the market trades at or above the green ‘A’ up line for at least 15 consecutive minutes. Check your short term and/or 5 minute chart to verify. Place the stop loss at the Opening Range low and the profit target stated below.

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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. Keep in mind the 3 hours is not a rule but a guideline as you will want to use discretion when managing the trade. One option is to move your stop loss up to breakeven (entry price) if the trade is triggered and the market moves up but then stalls and goes sideways.

Entry Price: 869.25
Stop Loss: 845.00
Profit Targets: First profit target 897.00. Second profit target 924.00. Once price reaches the first profit target raise the stop loss to breakeven.

Disclaimer: The writer owns Litecoin, 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 18 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: Huntercoin

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The Huntercoin/Bitcoin (HUC/BTC) market exhausted its bull run on June 21, 2017 when it generated a lower high of 0.000115. Things took a turn to the worse when it broke support of 0.00006 on July 7. Since then, the pair generated consecutive lower highs and lower lows until it finally established a bottom at 0.00001003 on October 23. At this price level, the market shed over 91% of its value from the lower high of 0.000115.

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HUC/BTC consolidated for a couple of months until it surged on December 23, and took out resistance of 0.00002. The breakout was so strong that it went as high as 0.00004084 on January 12, 2018. Breakout players exploited the ascent which ignited massive profit taking. Consequently, the market dipped, and went as low as 0.00001816 on February 6. This pullback is your opportunity to enter the market at the early stages of a possible bull run.

Technical analysis reveal that the Huntercoin/Bitcoin market is creating a bullish higher low setup at 0.00002. At this price point, breakout players have most likely sold all of their positions. The thin trading volume over the last seven days supports this assumption. In addition, volume surged on February 8 after the market went below 0.00002. This indicates that bulls are prepared to defend the new support level.  

The strategy is to buy as close to 0.00002 as possible. If bulls claim 0.00002, the market will likely use it to reach our target of 0.00004. The process may take a month.

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Daily Chart of Huntercoin/Bitcoin on Poloniex

As of this writing, the Huntercoin/Bitcoin pair is trading at 0.00002148 on Poloniex.

Summary of Strategy

Buy: As close to 0.00002 as possible.

Target: 0.00004

Stop:  0.000018

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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4.3 stars on average, based on 68 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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