Connect with us

Recommendations

Trade Recommendation: Qtum

Published

on

The Qtum/Bitcoin (QTUM/BTC) pair is down over 82% year-to-date. The market has been in a long and painful downtrend since early this year. Just looking at the chart can make you feel depressed even if you’ve never invested in the pair. The sharp drops throughout this bear market received little to no resistance from bulls. It’s as if bulls have given up hope.

At this point, however, it pays to be a contrarian. Hopelessness and depression are signs of a bottom. The “smart money” usually comes in when the public has abandoned the market. We’re starting to see this in QTUM/BTC.

Technical analysis show that the pair is hovering just above its historic support of 0.0006. This is the market’s line in sand. Bulls must defend it if they have any hope of keeping the market stable. It looks like they got the memo.

On August 14, 2018, volume suddenly spiked as QTUM/BTC dropped to 0.00061. Volume remained elevated until August 17 when the market printed volume that’s never been seen since April 2018. Someone is buying the support and that someone is buying in bulk. To this someone, the market does not look hopeless or depressing.

The strategy is to buy as close to 0.0006 support as possible. If the backtesting of the historic support is a success, QTUM/BTC might be able to generate the momentum needed to break out of the large falling wedge and rally to our target of 0.001.

The process may take less than a month.

Daily Chart of Qtum/Bitcoin on Binance


As of this writing, the Qtum/Bitcoin pair is trading at 0.000662 on Binance.

Summary of Strategy

Buy: As close to 0.0006 as possible.

Target: 0.001

Stop:  0.00059

 

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...

3.6 stars on average, based on 234 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: Status

Published

on

The Status/Bitcoin (SNT/BTC) pair bounced off a low of 0.00000471 on September 12, 2018. At that price level, the market was down by almost 90% from the 2018 high of 0.00004406. With such a tremendous loss, investor confidence is most likely shattered at this point.

However, one of the best times to invest in an asset is when no one’s looking. Whales or smart money investors often enter when no one’s paying attention. We can see this scenario possibly developing in SNT/BTC.

Technical analysis shows that SNT/BTC is positioning to take out resistance of 0.0000056. The breach would trigger the breakout from the large falling wedge pattern on the daily chart.

We believe that SNT/BTC will likely breakout from the pattern for several reasons. First, the pattern is near its apex. This makes it very difficult for bears to establish another lower high considering that value has gone down by almost 90%. On top of that, volume has been significantly declining. A dwindling supply paired with bearish exhaustion can be a recipe for a breakout.

Lastly, we can see the daily RSI breakout from its own falling wedge. This tells us that bulls are starting to make their presence felt.

The strategy is to buy the breakout at 0.0000056 as long as the market generates volume of 12 million Status units. Bears will do their best to keep market control. SNT/BTC needs buyers to absorb the expected selling pressure.

Once breakout is complete, the rally will likely take SNT/BTC to our target of 0.000008.

The process may take a month.

Daily Chart of Status/Bitcoin on Binance

As of this writing, the Status/Bitcoin pair is trading at 0.00000527 on Binance.

Summary of Strategy

Buy: Breakout at 0.0000056 after the market meets volume requirements.

Target: 0.000008

Stop: 0.0000054 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.

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...

3.6 stars on average, based on 234 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: Populous

Published

on

The Populous/Bitcoin (PPT/BTC) pair took out resistance of 0.00056 on August 16, 2018. The breach triggered the breakout from the large falling wedge on the daily chart. The breakout looks valid because it was followed by a surge in volume and price. PPT/BTC managed to climb to as high as 0.00108 on August 17.

Unfortunately, the rally was seen as an opportunity to take quick profits. Those who bought the bottom and the breakout dumped positions. With the market flooded with supply. PPT/BTC pulled back. Nevertheless, we have reasons to believe that the retracement is over.

Technical analysis shows that PPT/BTC is respecting support of 0.0005. This view comes after bulls managed to keep the pair above this level since September 12. Every time bears try to breach the support, bulls gather their forces to lift the market above the support.

This encouraging sign is affirmed by the growing momentum, which you can see on the RSI. Since June 23, the market has been posting a series of RSI higher lows. This indicates that bulls are no longer waiting for extreme oversold conditions before stepping up. Little by little, bulls are working to swing momentum over to their side.

The strategy is to buy as close to 0.0005 support as possible. As long as the market is above this level, there’s a very good chance that it will revisit our target of 0.001.

The process may take less than a month.

Daily Chart of Populous/Bitcoin on Binance

As of this writing, the Populous/Bitcoin pair is trading at 0.0005337 on Binance.

Summary of Strategy

Buy: As close to 0.0005 support as possible.

Target: 0.001

Stop: 0.00048

 

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...

3.6 stars on average, based on 234 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: Waltonchain

Published

on

The Waltonchain/Bitcoin pair (WTC/BTC) took out resistance of 0.00044 on August 23, 2018. The breach triggered the breakout from the large falling wedge on the weekly chart. This enabled the market to rally to as high as 0.0007997 on August 31. In a little over a week, the market grew by over 80%.

The rally, however, was taken as an opportunity by breakout buyers and bottom fishers to dump positions. As heavy selling commenced, WTC/BTC pulled back. Nevertheless, this dip is your chance to buy the breakout.

Technical analysis shows that WTC/BTC is respecting support of 0.00044. This view comes after the pair dropped to as low as 0.0004344 on September 12. At that point, bulls started to enter the buying picture. The increase in demand lifted the market back above the support.

This is an encouraging sign. Pullbacks are often expected to happen after a breakout rally. The fact that WTC/BTC is respecting the new support means that participants are bullish. They are no longer waiting for the pair to revisit recent lows before placing buy orders.

The strategy is to buy as close to 0.00044 support as possible. As long as the market is above this level, there’s a very good chance that it will revisit our target of 0.00079.

The process may take a month.

Weekly Chart of Waltonchain/Bitcoin on Binance

As of this writing, the Waltonchain/Bitcoin pair is trading at 0.000487 on Binance.

Summary of Strategy

Buy: As close to 0.00044 support as possible.

Target: 0.00079

Stop: 0.00043

 

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...

3.6 stars on average, based on 234 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

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