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Trade Recommendation: Ripple on Strong Bullish Continuation

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Ripple (XRP) ended its six-month consolidation period when it breached resistance at 0.40 on December 12, 2017 on Bitstamp’s daily chart with over five times its average daily volume. Ripple is currently consolidating as breakout buyers at 0.40 are either lightening positions or getting out of the market. While some profit is better than no profit, we believe that this altcoin offers more potential for gains.  

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Technical analysis show that the Ripple/USD market is creating a strong bullish continuation pattern on the daily chart. Breakout is not yet in sight with the market still overbought. It may still go to as low as 0.61 which is a good opportunity for you to place buy orders.

The strategy is to buy as close to 0.61 as possible. You can also wait for breakout at 0.85 but we recommend buying as low as you can to limit your risks. The market is not going to run away anytime soon so you have some time to buy cheap. Once consolidation is over, we have a target of 1.25.

Daily Ripple/USD Chart on Bitstamp

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As of this writing, the Ripple/Dollar pair is trading at 0.744 on Bitstamp.

 

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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Trade Recommendation: Bitcoin Cash

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he price is at a strong support zone formed by the uptrend line from the daily time frame and 2000.00 support level. RSI reached the oversold zone and it is going to confirm possible price reversal. The same goes about a reversal candlestick pattern. The price can bounce from this zone and give us a good trading opportunity. We can try to catch possible upward movement placing buy orders at 2135.00 level with stop orders at 1725.00 level. Profit targets are 2550.00 and 2950.00 resistance levels. The part of trade volume can be left for long run. The market is more unpredictable now and using stop-loss orders and proper risk management strategies is strongly recommended. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

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Market: BCCUSDT
Buy: 2135.00
Stop: 1725.00
Profit Targets: 2550.00 and 2950.00

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

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //
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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Trade Recommendation: Bela

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Bela’s bullish run came to a screeching halt less than a week after the Bela/Bitcoin pair generated an all-time high of 0.00018 on April 8. The market registered a lower high of 0.00016405 on April 14. Since then, Bela tumbled as it struggled to defend key levels such as 0.00007 and 0.00004.

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The market finally established support at 0.000009 on December 7. From Bela’s all-time high, the market lost 95% of its value in about eight months. While that’s an astronomical loss in value, it gives new investors an opportunity to buy the bottom, which limits risks and offers significant rewards.

Technical analysis reveal that 0.000009 is the bottom, as the market was able to generate a true bounce at this level. The pair went from 0.000009 to 0.00003975 in about a month – a 341.67% increase in value. With such a rapid climb, it’s only healthy for the market to retreat. This is a good opportunity for you to enter, and buy cheap.

The strategy is to buy as close to 0.000025 support as possible. The pullback is only temporary. Once the selling is over, the market will attempt to breach resistance at 0.00004. Take out that level and we have a target of 0.00007.   

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Daily Chart of Bela/Bitcoin on Poloniex

As of this writing, the Bela/Bitcoin pair is trading at 0.00002716 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.

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Trade Recommendation: Stellar

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The price is at 0.50 support level. The reversal candlestick pattern gives a signal that the price can bounce from this support. RSI drops to the oversold zone and it can support the possible price reversal. The double bottom chart pattern also tells us about a trend reversal. MACD and DMI confirm further downward movement. Presently, we have weak signals for opening long positions. If you can take high risk, the current price is very good for buying. Entry level is 0.52 with stop orders at 0.40 level. Profit targets are 0.70 and 0.90 resistance levels. If you would like to get more solid signals confirming the price reversal and further upward movement, it’s better to wait for a breakout above the downtrend line and as additional signal, a breakout above the high of the double bottom pattern. Don’t forget that the markets are not stable now and they can drop lower. Stellar can reach the next support at 0.30 level. That’s why using stop-loss orders and proper risk management is strong recommended.

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Market: STRUSDT
Buy: 0.52
Stop: 0.40
Profit Targets: 0.70 and 0.90

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

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //
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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