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Trade Recommendation: Neo

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The market is going to reverse from 0.003200 support level. The bullish divergence confirms a trend reversal. MACD and DMI support upward movement. It’s a new trading opportunity. Pending orders for buy can be placed at 0.003650 level with stop orders at 0.003100 level. Profit targets are 0.004650 and 0.006000 resistance levels. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

Market: NEOBTC
Buy: 0.003650
Stop: 0.003100
Profit Targets: 0.004650 and 0.006000

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

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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3.3 stars on average, based on 44 rated postsDmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.




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2 Comments

2 Comments

  1. vparekh

    December 5, 2017 at 3:44 am

    Can you please explain what do you mean by “If you don’t use leverage, trading volume for this trade is up to 10% from your deposit. “

  2. Allroundm

    December 5, 2017 at 11:21 am

    In what time will this raise?

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Cryptocurrencies

No Signs of Crypto Revival as Weekend Begins; XRP Overtakes Ethereum by a Wider Margin

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Cryptocurrencies

Bitcoin and alternative cryptocurrencies remained under pressure Saturday following one of the worst drops of 2018, as the fallout from the bitcoin cash hard fork offered little reassurance that the market had moved past the divisive rhetoric.

Market Update and XRP/Ethereum “Flippening”

The combined market value of all cryptocurrencies averaged $183 billion on Saturday, according to CoinMarketCap. Crypto values bottomed at 13-month lows Thursday and have since made only a modest recovery attempt.

Total trade volumes have declined sharply over the last 48 hours, falling from a high near $25 billion all the way back down to $13.6 billion. The top-three exchanges by daily trade volume – Binance, OKEx and Huobi – reported double digit declines in turnover.

In terms of individual coins, bitcoin saw an average exchange price of $5,567, down 0.6% compared with Friday. At current values, BTC has a total market capitalization of $96.8 billion.

Ethereum, bitcoin cash and Litecoin all reported 24-hour losses. As Hacked reported earlier, the ETH price is moving within a strong demand area, which could generate a large rally in the short term.

Amid the downtrend, XRP once again emerged as the standout performer. The so-called banker’s cryptocurrency has gained 1% in the last hour and 3.2% compared with Friday to trade at $0.4855. Over the past seven days, XRP has declined just 4.4%. Among top-ten coins, losses ranged between 6% and 20% over the same period.

Perhaps more importantly, XRP has widened its lead over Ethereum in terms of market cap. At the time of writing, XRP was valued at $19.6 billion compared with $17.9 billion for Ethereum.

Bitcoin Cash Hard Fork Aftermath

The cryptocurrency market lost a staggering $37 billion over a two-day selloff that centered on a highly contentious hard fork of bitcoin cash. As Hacked and CCN reported Friday, bitcoin ABC appears to be winning the hash war, with the primary implementation of BCH mining more blocks and featuring more transactions than the competing bitcoin SV chain.

That said, the bitcoin SV camp has reminded observers that the battle for network dominance is a marathon and not a race. Craig Steven Wright, the most vocal supporter of bitcoin SV, tweeted Friday that “We are just at the trials and not yet on the finals to Marathon.” As the battle continues, Wright has warned that the price of bitcoin will continue to be depressed for the foreseeable future.

Roger Ver’s Bitcoin.com mining pool recently announced it was diverting all of its hash power to mine bitcoin ABC blocks. This includes temporarily reallocating hash power from BTC blocks to mine the new chain. The announcement created a bit of a firestorm on Twitter, with some users threatening to take legal action because they have no intent on mining BCH.

Disclaimer: The author 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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4.6 stars on average, based on 666 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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Altcoins

Factom (FCT) Rides Recovery to 65% Gains as Mortgage Service Adopts Blockchain

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Factom (FCT) climbed 65% from Wednesday through Saturday, as it continued to ride the recovery wave while the rest of the market stalled.

The price surge comes amid news that Factom’s Harmony blockchain-as-a-service (BaaS) technology is to be used by mortgage software and marketing firm, Equator, as a way to increase efficiency.

Factom Price on the Move

The press release announcement landed on November 13th, just as the recent market dip struck which wiped $38 billion off the global market cap. The value of FCT sunk along with the rest of the market, hitting a new 20-month low of $3.81, and a market cap of just over $30 million.

Since then, however, FCT’s fortunes turned round and the coin went on a day-on-day growth surge up to a price of $6.30 – a 65% increase. That was enough to take Factom’s market cap to over $50 million, and send it into the top hundred coins by market cap.

Of FCT’s trade action for Saturday, 100% of trades have come against BTC. Factom only has one other trading pair to its name – the CK USD (CKUSD) stablecoin. Poloniex catered to the majority of movements, with Bittrex, Upbit and Cryptopia picking up the rest.

Factom Gains Mortgage Service Use-Case

As per the press release which announced Factom’s new partnership:

“Equator, an Altisource business unit and a leading provider of residential loan default software and marketing solutions for many of the country’s top servicers, real estate agents and vendors, today announced an agreement with Factom, Inc. to integrate the Factom® Harmony blockchain-as-a-service (BaaS) platform into the Equator® PRO solution.”

According to the press release, Equator PRO is a software-as-a-service (SaaS) solution that aims to offer efficiency and oversight to help other mortgage servicers. Their platform includes but is not limited to:

“…loan management, loan modification, short sale/deed-in-lieu, foreclosure/bankruptcy, and real estate owned (REO) focused products…”

In the plainest of language, Factom just got a real-world use-case for its blockchain tech. Thus far, the technology is expected to be used to:

“…provide a distributed mechanism to preserve data, files and digital records, making them verifiable and independently auditable…”

Celebrations

Patrick G. McClain, Senior Vice President of Equator talked up the partnership, stating:

“Incorporating Factom’s blockchain tools will support our customers’ compliance obligations. At Equator we are regularly working to improve and advance our default servicing technology, and adding cutting-edge tools like Factom’s Harmony is another example of our continued leadership.”

Chief Operating Officer of Factom, Laurie Pyle, also celebrated the news, stating:

“At Factom we know a practical blockchain solution is needed to specifically deal with complex business data and documents. We look forward to working with Equator, who shares the vision of using blockchain technology to bring transparency and efficiency to the default servicing process.”

Factom launched just over three years ago and was subject to lots of positive chatter up until the ICO era came into play, and Factom was relegated from CoinMarketCap’s first page.

Disclaimer: The author 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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4.4 stars on average, based on 89 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Altcoins

Ethereum Price Analysis: ETH/USD Has Big Opportunity to Fly Again

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  • ETH/USD is running at seven consecutive sessions of losses, dropping as much as 25%.
  • Price action is moving within a strong demand area, which could very well see the price rocketing again.

Current Price Action

ETH/USD is stuck within a stubborn downward trend. The price is running at a seven consecutive session losing streak. During this time period, ETH/USD has dropped as much as 25%, falling from $226, down to recent lows of $171.95. This is the biggest weekly loss seen since the bear market back in September.

The price was trading in a consolidation manner; this had been the case after the above-mentioned bear market drop. ETH/USD at the time had dropped as much as 45%, before finally staging a recovery. Since the bounce on 12th September, price action began to form a bearish pennant pattern, which was then firmly broken on 14th November.

ETH/USD daily chart

Buying Opportunity  

At the time of writing, ETH/USD is seen trading deep within a known demand area. Buyers last pilled in and drove the price north, back on 12th September, as detailed above. It had gone on to gain a whopping 50%, following the hammer candlestick reversal confirmation. The demand can be eyed around the $170 territory.

Eyes should be on indications of a reversal, the potential for a signal from a candlestick formation, similarly to the prior mentioned recovery. In terms of the RSI via the daily time frame, ETH/USD is very much in oversold territory. The index seen around the 27 level at the time of writing, which could see the price soon bottoming out.

Upside Targets

Should life be kicked back into the bulls, another retest of the breached pennant pattern would likely be seen. Resistance underneath the pennant should be noted at the psychological $200 mark. The bears firmly ran through this price level on 14th November. Further north, another barrier can be observed at $230 area, a known supply zone.

There has been much debate over the past couple of months, as to whether the cryptocurrency market has hit the bottom. Many believed that this was the case, after the deep September drop. While some were still calling another corrective fall. Once some stabilization from the bulls is seen and recovery picks up momentum, this may be the last of the bears for 2018.

Disclaimer: The author 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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4.5 stars on average, based on 54 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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