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Trade Recommendation: Stratis

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Stratis (STRAT/BTC) has been recently making huge waves. It plummeted to as low as 0.000003 on December 6, 2018. At that price, the market lost about 99.82% of its value from the 2018 peak of 0.001681. This made STRAT/BTC one of the worst performers of the year. Nevertheless, it appears that this one huge pullback is setting Stratis for a big comeback.

Technical analysis shows that STRAT/BTC has come back to life after breaching resistance of 0.000292 on December 20, 2018. The breakout inspired a strong rally that sent the market to as high as 0.0004225 on December 24. In about three weeks, Stratis increased by close to 14,000% from the 2018 bottom!

With such astronomical growth in such a short period of time, Stratis is due for a correction. It is currently overbought on the daily chart. On top of that, volume has significantly declined since the rally faded on December 20. This indicated that buyers are losing steam. The disappearance of buyers might send Stratis to our range low.

The strategy is to buy as close to 0.000292 support as possible. We are confident that this support will hold for several reasons. First, Stratis struggled to go above 0.000292 for four months. Now that it has, 0.000292 can be considered as a durable support level. On top of that, we have the 200 moving average crawling at that level.

As long as bulls stay above 0.000292, they will likely generate the momentum to rally to our range midpoint of 0.0003769. Take that out and the next target is 0.000462.

The process may take less than a month.

Daily Chart of Stratis/Bitcoin on Binance

As of this writing, the Stratis/Bitcoin pair is trading at 0.0003465 on Binance.

Summary of Strategy

Buy: As close to 0.000292 as possible.

Targets: 0.0003769 and 0.000462.

Stop: 0.000284

 

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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Trade Recommendation: Pundi X

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Pundi X (NPXS/BTC) is a coin that’s raring to leave its accumulation range and trend higher. It has been range trading between 0.0000001 and 0.0000002 for almost three months now. During this period, bulls attempted to take out the top end of the range three times. While all three attempts have failed, we believe the next one will succeed.

Technical analysis shows that NPXS/BTC is in a position to take out resistance of 0.0000002. This view comes after the market managed to hold on to our range midpoint of 0.00000015 on February 4, 2019. On top of that, Pundi X printed volume that’s significantly higher than its daily average on January 24, January 27, January 28, and February 5. If you notice, these are the days when Pundi X claimed and retained our range midpoint of 0.00000015.

These volume upticks are bullish. They indicate that the market is in the latter stages of base building. The investors that are accumulating positions are heavily buying while Pundi X is still trading at bargain prices.

The strategy is to buy on dips as close to 0.00000015 as possible. As long as NPXS trades above this level, bulls will likely gather the momentum to finally take out our range high of 0.0000002. Once this resistance is breached, it will trigger the breakout from an inverse head and shoulders pattern on the daily chart. A breakout will likely send the market to our target of 0.0000003.

The process may take less than a month.

Daily Chart of Pundi X/Bitcoin on Binance

As of this writing, the Pundi X/Bitcoin pair is trading at 0.00000019 on Binance.

Summary of Strategy

Buy: As close to 0.00000015 as possible.

Target: 0.0000003

Stop: 0.00000014

 

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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