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Trade Recommendation: Qtum

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The price of Qtum has bounced from the support zone formed by the 0.035000 support level and Senkou B line of the Ichimoku indicator. The DMI confirms trend market conditions and allows opening long trades. We have a trading opportunity. Pending orders for buy should be placed at 0.037800 level with stop orders at 0.034000 level. The main profit target is 0.050000 level. The part of trade volume can be left for the long run. If you don’t use leverage, the recommended trading volume for this trade is up to 5% from your deposit.

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Market: QTUMETH
Buy: 0.037800
Stop: 0.034000
Profit Targets: 0.050000

The trading signal is based on Bittrex chart.   

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1 Comment

1 Comment

  1. jhmblvd

    October 30, 2017 at 6:47 am

    Seems like it’s been a long time since we’ve seen bullish movement on coins outside of the main three coins. I’m wondering what long term coins offer the best chance of lastng, how many will be here in 2020? With over 1000 altcoins and ICOs falling like rain it’s looking like a bubble that cannot be sustained.

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Analysis

Long-Term Cryptocurrency Analysis: Bitcoin Flirts with $8000 as Altcoin Bull Persists

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Bitcoin’s swift recovery was the main topic of the week, as the most valuable coin not just regained its steep losses, but hit a marginal new high towards the end of the period. The entire segment is experiencing capital inflows as the total value of the coins climbed above $230 billion for the first time ever after finally leaving the vicinity of the $200 billion mark.

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BTC breached the $8000 level before turning slightly lower on Friday, but despite the severely overbought daily chart, it is still trading near its all-time highs. As the long-term picture still suggests a deeper correction, investors should wait with opening new positions and traders should also control position sizes here. Key support levels are found at $7700, $7000, and $6700, while the recent key break-out level at $5000 still hasn’t been re-tested.

BTC/USD, Daily Chart Analysis

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Dash is still the most bullish altcoin from a technical standpoint, despite this week’s short-term correction, as the coin is trading above its prior all-time high, and this weekend, it looks ready to test the break-out high near $500. Support levels are still found at $400, $360, and $330, and as the long-term picture is approaching overbought territory, investors should only hold on to their positions here.

DASH/USD, Daily Chart Analysis

The other major altcoins are also mostly in bullish setups, with some of them already in the latter stages of this cycle, like Monero and IOTA, but elsewhere in the segment, there are still opportunities for both traders and investors. Let’s see the detailed long-term view.

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Cryptocurrencies

Trade Recommendation: Zcash

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The market is in the uptrend and we have to search for buy opportunities. MACD and DMI support upward movement and we can trade based on a breakout signal above 300.00 resistance level. If the price can break this resistance, we’ll get an additional signal confirming the upward movement. Entry level is 302.00 with stop orders at 283.80 level. Profit targets are 320.00 and 350.00 levels. This is a short term trade, but the part of trade volume can be left for long run. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

Market: ZECUSD
Buy: 302.00
Stop: 283.80
Profit Targets: 320.00 and 350.00

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The trading signal is based on the Poloniex chart.

Disclaimer: The analyst is invested in Zcash.

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Cryptocurrencies

Trade Recommendation: Bitcoin

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The trading idea is based on a breakout signal above the downtrend line and the local swing high. If the price moves above 7800.00 level, it will be a signal that the market is going to continue the uptrend. In order to catch this price movement, pending orders for buy should be placed at the 7810.00 level with stop orders at 7380.00 . Profit targets are 8200.00 and 8500.00 levels. If the market bounces from the downtrend line and moves lower, we’ll have to use a new swing high for placing buy orders. And it will be a new trading opportunity. If you don’t use leverage, trading volume for this trade is up to 10% of your deposit.

Market: BTCUSD
Buy: 7810.00
Stop: 7380.00
Profit Targets: 8200.00 and 8500.00

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The trading signal is based on Poloniex chart.

Disclaimer: The analyst is invested in Bitcoin.

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Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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