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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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3.7 stars on average, based on 169 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: Bitcoin Cash

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A bottom may be in for the BCHBTC coin price. Currently the Daily Pivot Range (blue dots) is holding the price intact at these levels in a somewhat sideways channel. There is a minor uptrend that has developed along the Monthly Pivot level. Along with these Pivots we have the 3 Day Rolling Pivot Range holding support there as well.

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When we have a number of Pivots and Pivot Ranges in close proximity like this, I call it a Pivot Stack. This is where we see the vertical stacking of the Pivots which forms a very strong price level from which we can discern a high probability setup.

We want to “lean against” the support or resistance in these setups. In this case we will want to lean against the support and look to take a long (buy) position. But we want to have confirmation by awaiting the price to go above the Monthly Pivot Range high, which is key resistance, at .140700.

Sometime there is a chance the price penetrates this key level and retraces back into the “channel”. These trades are about probabilities, so we will place our stop loss at a sensible level and live with the risk as long as the risk reward ratio is favorable to us or at a minimum 1:1.

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Place your stop loss and profit targets stated below.

Entry Price: .140700
Stop Loss: .133900
Profit Targets: First profit target .149000. Second profit target .152500. Once price hits first profit target raise the stop loss to breakeven.

Disclaimer: The writer owns Ripple, 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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4 stars on average, based on 57 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: Florincoin

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The Florincoin/Bitcoin pair (FLO/BTC) launched its bull run on April 6, 2017 when it took out resistance of 0.00001. This triggered the large cup and handle pattern on the daily chart. The breakout attracted so much momentum that the market went as high as 0.00006541 on May 13. In less than a month, FLO/BTC grew by an astronomical 554%.

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At this price level, the market showed bearish signals. First, the market was in extreme overbought territory. In addition, it struggled to close above the 61.8% Fibonacci level. Those who saw these signals knew it was time to lock their gains.

The heavy selling drove the pair down to 0.00002232 on May 28, 2017. After seeing that the market respected the 38.2% Fibonacci level, bottom pickers entered the buying picture and ignited a rally to 0.00005645 on June 16. Sensing that a lower high was in place, participants dumped their positions to preserve their capital. As a result, FLO/BTC generated a series of lower highs and lower lows until it bottomed out at 0.00000505 on December 8.

The pair has been showing bullish signals since. This could be your opportunity to buy the breakout.

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Technical analysis reveals that Florincoin/Bitcoin is positioning to take out resistance of 0.0000157. This would trigger the ascending triangle pattern on the daily chart. To complete the breakout, FLO/BTC needs to print at least 1 million units of Florincoin. Those who bought the bottom and the higher lows are likely to take profits at the resistance. The market needs buyers to absorb the selling pressure.

The strategy is to buy the breakout of 0.0000157 after the market generates the required volume. The breakout may attract a lot of momentum that can push the pair to our target of 0.000024.

The process may take a month.

Daily Chart of Florincoin/Bitcoin on Poloniex

As of this writing, the Florincoin/Bitcoin pair is trading at 0.00001386 on Poloniex.

Summary of Strategy

Buy: Buy the breakout at 0.0000157 after volume of 1 million Florincoin units is met.

Target: 0.000024

Stop:  0.000014 after the breakout.

 

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 169 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: Zcash

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This trade recommendation is setting up quickly and requires prompt attention

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Zcash (ZECUSDT) has bounced off the Monthly Pivot Range high. This is significant, longer term support and is a great area to look at going long the market. On the Hourly chart you can see a very encouraging sign in the Hammer candle a few hours ago, that is part of the double bottom formation from the last couple days.

The Daily Pivot Range is in the way for the moment and we will want to see the price move beyond this level to confirm a buy position. The Monthly Pivot is usually an extremely reliable level to lean against. However, we will take the more conservative approach and await a confirmed move of strength to the upside before we enter long.

The action to take is to place a buy order to enter the market long if the market trades at or above the previous swing high level of 283.00. Place the stop loss below the Hammer candle low which is also below the Monthly Pivot Range high support. See the profit targets below.

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Entry Price: 283.50
Stop Loss: 267.00

Profit Targets: First profit target 298.00. Second profit target 317.00.

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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4 stars on average, based on 57 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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