Connect with us

Recommendations

Trade Recommendation: NEM

Published

on

The NEM/Bitcoin (XEM/BTC) pair kicked its bull run into overdrive when it took out 0.0001 on January 3, 2018. The next day, it went as high as 0.000137 which is a growth of in 80.26% from the market’s low on January 3rd. Such a rapid increase in value in 48 hours prompted breakout buyers to take profits. The selling commenced as the market flashed extreme overbought readings.

// -- Discuss and ask questions in our community on Workplace.

Facing heavy selling pressure, the market broke below 0.0001 on January 5. The market capitulated on January 16 as volume spiked to 5,145.5 bitcoins when the average daily trading volume was less than 2,000 bitcoins. As a result, the market went as low as 0.00005 on that day before bulls stepped in to bring it back up to 0.000089. The pair is still correcting, but this dip is your chance to enter cheap.

Technical analysis show that the XEM/BTC pair is establishing support at 0.00006. The declining volume suggest that the corrective phase is almost up. In addition, the market is near oversold territory. These indicators hint that we’re close to seeing the market resume its climb.  

The strategy is to buy as close to 0.00006 support as possible. Should bulls defend that level, the market will most likely attempt to breach resistance of 0.00012 within a month.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

Daily Chart of NEM/Bitcoin on Poloniex

As of this writing, the NEM/Bitcoin pair is trading at 0.00006799 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.
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...

3.7 stars on average, based on 167 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: Zcash

Published

on

This trade recommendation is setting up quickly and requires prompt attention.

// -- Discuss and ask questions in our community on Workplace.

The ZECUSDT coin price has tested the 3 Day Rolling Pivot Range and held support there. With a clear reversal Hammer candle in place the price could see a strong reversal move. The Daily Pivot Range low is current near term resistance.

This is a good risk reward ratio buy trade. The longer term supports of the Weekly and Monthly Pivot Range set below the current price is a solid sign of upward bias. Additionally,  the Daily Pivot Moving Averages remain turned up which demonstrates continued upward bias.

The action to take is to buy at just above the Daily Pivot Range low on a breakout of this resistance level.  Place your stop loss and profit targets stated below.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

Entry Price: 349.50
Stop Loss: 336.50
Profit Targets: First profit target 377.00. Second profit target 390.00. 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.

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...

4 stars on average, based on 56 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.




Feedback or Requests?

Continue Reading

Recommendations

Trade Recommendation: aelf

Published

on

The Aelf/Bitcoin pair (ELF/BTC) has been trapped in a wide range between 0.000056 to 0.00022 since December 22, 2017. For about a month and a half, market participants accumulated positions as seen on the daily average Aelf volume of 30 – 40 million units. By February 6, 2018, volume began to exponentially decline. This suggests that early adopters are done accumulating positions.

// -- Discuss and ask questions in our community on Workplace.

All of a sudden, the market came back to life on April 12 when volume spiked to over 75 million Aelf units. The surge was a signal that the pair was in the latter stages of base building. True enough, ELF/BTC rallied to as high as 0.000238 before bottom pickers began to take profits.

The market has been correcting since. However, it appears the ELF/BTC is also preparing to mount another rally.

Technical analysis show that Aelf/Bitcoin is positioning make another run at 0.00022. This comes after the market respected the 50% Fibonacci level on May 18. In addition, a hidden bullish divergence can be spotted on the RSI. These indicators tell us that the pair is generating a bullish higher low setup.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

The strategy is to buy as close to 0.00016 as possible. If bulls can stay above this level, they will attract more bottom pickers who can help lift the market to our target of 0.00022.

The process can take less than a month.

Daily Chart of ELF/BTC on Binance

As of this writing, the Aelf/Bitcoin pair is trading at 0.00016026 on Binance.

Summary of Strategy

Buy: Current price of 0.00016026.

Target: 0.00022

Stop: 0.000155

 

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.
1 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 51 vote, average: 5.00 out of 5 (1 votes, average: 5.00 out of 5)
You need to be a registered member to rate this.
Loading...

3.7 stars on average, based on 167 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: Lisk

Published

on

This is a longer term buy trade. LSKBTC is in a nice uptrend coming off the recent 10 day retracement of the bounce from the bear market since February. The market seems to have more left in this move to the upside.

// -- Discuss and ask questions in our community on Workplace.

Expect strong resistance at the Monthly Pivot Range high. However, once we can get above this level, this could be a good buy trade for the longer term. Be patient, as it may take many days for the market to be convicted to go higher off the Monthly Pivot high resistance.

Another good sign is the Daily Pivot Moving Averages are flattening out which is a good indication the momentum is preparing to shift direction.

So, the action to take is to buy when the market closes above the Monthly Pivot Range high on the Daily chart. We should be confident in the support level of the Monthly Pivot Range low which would be a good place for the stop loss.

// -- Become a yearly Platinum Member and save 69 USD. Click here to change your current membership -- //

Entry Price: 0.0013684
Stop Loss: 0.0012386
Profit Targets: First profit target 0.0015675. Second profit target 0.0019400. Once price reaches the first profit target raise the stop loss to breakeven. Then if the market follows through to higher levels manage the trade by trailing a stop loss .0000750 points behind until second profit target is reached or stopped out.

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...

4 stars on average, based on 56 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.




Feedback or Requests?

Continue Reading

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