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Trade Recommendation: NEO

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NEO (NEO/USD) looks like a market that wants to break out of accumulation. The market started the accumulation process on December 7, 2018 when it established support of $5.50. This crypto traded around that level for a couple of weeks until a surge in volume showed participants that the market was ready to move higher. The volume uptick ignited a rally that sent the market to as high as $9.36 on December 24, 2018.

If the market was still bearish, NEO would have dumped back down to $5.50 support or even went below it. However, the market generated a higher low set up of $6.92 on December 28, 2018. That was enough for many to start placing long positions in the market.

Technical analysis shows that NEO/USD breached resistance of $9 on January 8, 2019. This triggered the break out from an inverse head and shoulders pattern on the shorter time frames. As a result, the market rallied to as high as $10.08 on January 9.

While NEO is currently pulling back, the rally gave the market its first higher high in months. If NEO can stay above support of $7.30, the market’s sentiment will turn from neutral to slightly bullish.

The strategy is to buy on dips as close to $7.30 support as possible. The 100 moving average on the 12-hour chart as well as the 200 moving average on the 4-hour chart are crawling around that price area. They will help keep the price above the support.

Should the price manage to stay above $7.30, the market will likely generate the momentum to rally to our target of $9.00. Take that out and the next target is $13.50.

The process may take a less than month.

12-hour Chart of NEO/US Dollar on Binance

As of this writing, the NEO/US Dollar pair is trading at $7.86 on Bitfinex.

Summary of Strategy

Buy: As close to $7.30 as possible.

Targets: $9.00 and $13.50.

Stop: $7.10

 

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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3.8 stars on average, based on 326 rated postsKiril is a CFA Charterholder and financial professional with 5+ 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: Ark

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Our November 23, 2018 trade recommendation for Ark (ARK/BTC) hit both of our targets. The first one was hit on January 4, 2019 when the market climbed as high as 0.0001297. The second target was achieved on February 8 when the price rallied to 0.0001539. Those who followed the trade recommendation grew their investments by over 70% in less than two months.

Now, we’ve been tracking Ark ever since it managed to go above our range high of 0.000128 on February 10. This was an indication that the market has left its accumulation range and it is now ready to trend higher. So far, the chart supports our view.

Technical analysis shows that ARK/BTC is forming a bull flag on the daily chart. This tells us that the market is more likely to continue its bullish momentum. The pattern suggests that the market is in consolidation as those who bought the bottom take profits. Once sellers lose ammunition, Ark will very likely resume its uptrend.

Technical indicators agree with this sentiment. We can see that volume has significantly declined after the February 10 range breakout. This shows that whales are not dumping their positions. Also, the low volume suggests that retail traders are the ones selling their positions. This is bullish because limited supply often translates to higher prices.

The strategy is to buy the dip as close to our new range support of 0.000128 as possible. As long as bulls protect this level, Ark will likely rally to our targets of 0.0001621 and 0.0001912.

The process may take a month.

Daily Chart of Ark/Bitcoin on Binance


As of this writing, the Ark/Bitcoin pair is trading at 0.0001352 on Binance.

Summary of Strategy

Buy: As close to 0.000128 as possible.

Targets: 0.0001621 and 0.0001912.

Stop: 0.000122

 

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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3.8 stars on average, based on 326 rated postsKiril is a CFA Charterholder and financial professional with 5+ 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: Monero

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Our trading system is simple. We plot the current range and identify three levels: support, resistance, and midpoint. We buy low and sell high by buying the support and selling the resistance. However, there are times when the midpoint is also a good buy level. Whenever we do that, we’re convinced that the market is about to break out of the range and trend higher. That’s what we’re seeing in Monero (XMR/BTC).

Technical analysis shows that XMR/BTC is threatening to take out resistance of 0.014. This view comes after the market broke out of a descending triangle pattern on the 12-hour chart on February 8, 2019. The breakout triggered a rally that sent Monero close to our range high of 0.014 on February 13.

At that point, Monero was in overbought territory on the 12-hour chart. This inspired those who bought the bottom to take profits. As a result, the market is currently pulling back. Nevertheless, this retracement is giving us the chance to go long on the market.

The strategy is to buy at the current level of our range midpoint of 0.013. As long as Monero trades above this level, bulls will likely gather the momentum to finally take out our range high of 0.014.

Once the resistance is breached, it will trigger the breakout from a double pattern on the 12-hour chart. A breakout will likely send the market to our target of 0.016.

The process may take less than a month.

Daily Chart of Monero/Bitcoin on Binance

As of this writing, the Monero/Bitcoin pair is trading at 0.013 on Binance.

Summary of Strategy

Buy: 0.013

Target: 0.016

Stop: 0.0124

 

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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3.8 stars on average, based on 326 rated postsKiril is a CFA Charterholder and financial professional with 5+ 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: Litecoin

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If you’ve been following our Litecoin (LTC/BTC) trade recommendations, you would have significantly grown your investments. Our January 12 trade recommendation hit both of our buy and sell targets. If you bought at 0.0085 between January 13 to January 20, 2019, you would have grown your investments by over 40% as of February 8 when the market rallied to as high as 0.0121.

If you’re happy with your gains, allow us to tell you that Litecoin is just getting started. The trade volume on February 8 was the market’s highest trading volume in a year. Market participants have shown their hand. They are positioning in anticipation of a very big move. You may want to be a part of this.

Technical analysis shows that LTC/BTC has broken out of an inverse head and shoulders pattern when it took out resistance of 0.01 on February 8. In technical terms, the price action indicates that the market has bottomed out. More importantly, the inverse head and shoulders breakout signifies the shift in sentiment from bearish to bullish. In other words, Litecoin is now in an uptrend.

Currently, Litecoin is in overbought territory on the daily chart. It must consolidate or significantly pull back to allow technical indicators to cool off. This should give us the chance to go long on the market.

The strategy is to buy on dips as close to 0.01 as possible. As long as Litecoin trades above this level, bulls will likely gather the momentum to hit our targets of 0.013 and 0.018.

The process may take a month.

Daily Chart of Litecoin/Bitcoin on Binance


As of this writing, the Litecoin/Bitcoin pair is trading at 0.011809 on Binance.

Summary of Strategy

Buy: As close to 0.01 as possible.

Targets: 0.013 and 0.018.

Stop: 0.0097

 

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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3.8 stars on average, based on 326 rated postsKiril is a CFA Charterholder and financial professional with 5+ 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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