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Trade Recommendation: Vertcoin

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The Vertcoin/Bitcoin pair ignited its bull run on October 21, 2017 when it broke out of resistance of 0.00035. It went as high as 0.00096219 on October 28 before succumbing to selling pressure. In just a matter of seven days, the market grew by 174.91%. Such a rapid rise in value was taken advantage by those who bought the breakout at 0.00035.

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Faced with heavy selling pressure, the market went below 0.0007 support on November 1. It went as low as 0.000038751 on November 3 before rallying back up to 0.00087863 on December 6. From that point, the market has been quietly dropping all the way down to support of 0.00035. That’s good news for you because the Vertcoin/Bitcoin pair is back at the level where its bull run started.

Technical analysis show that the market is creating a bullish higher low setup in the weekly chart at the price of 0.00035 bitcoins. With volume steadily declining in the seven weeks of trading, we can assume that the consolidation period is almost over. More importantly, the range is narrowing as seen in the contraction of the Bollinger bands. As bid and ask prices meet, the market will most likely explode up since the market is currently bullish.

The strategy is to buy as close to 0.00035 support as possible. Once consolidation is over, the market will likely restart its ascent towards our target of 0.0009. The entire process can take a month.

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Weekly Chart of Vertcoin/Bitcoin on Poloniex

As of this writing, the Vertcoin/Bitcoin pair is trading at 0.00037592 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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4.3 stars on average, based on 68 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.




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Trade Recommendation: Ethereum

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This trade recommendation is setting up quickly and requires prompt attention

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This is a short term trade. With the Daily Pivot Range (blue dots) tightly aligned with the similarly tight 3 Day Rolling Pivot Range (RPR) (green dots), the bias is strongly to the upside and therefore this level is key support.

The Daily Pivot Moving Averages are turning upward and are mildly bullish.

The action to take is to place a buy order to enter the market long if the market trades at or above the green ‘A’ up line for at least 15 consecutive minutes. Check your short term and/or 5 minute chart to verify. Place the stop loss at the Opening Range low and the profit target stated below.

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Note: If triggered, look for the trade to play out over a period of 24-36 hours and if no significant move after 3 hours, exit the trade. Keep in mind the 3 hours is not a rule but a guideline as you will want to use discretion when managing the trade. One option is to move your stop loss up to breakeven (entry price) if the trade is triggered and the market moves up but then stalls and goes sideways.

Entry Price: 869.25
Stop Loss: 845.00
Profit Targets: First profit target 897.00. Second profit target 924.00. Once price reaches the first profit target raise the stop loss to breakeven.

Disclaimer: The writer owns Litecoin, 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 18 rated postsI am the founder of VirtuesTrading.com, where traders can learn to use my Virtues Trading System. Formerly a Commodity Trading Advisor, I got my start in the Energy and Precious Metals Options & Futures pits of the New York Mercantile Exchange. I operate on the premise of efficient markets, the management of risk through the analyzation of price action and technical indicators. I have a BA in International Relations from the University of Southern California.




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Trade Recommendation: Huntercoin

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The Huntercoin/Bitcoin (HUC/BTC) market exhausted its bull run on June 21, 2017 when it generated a lower high of 0.000115. Things took a turn to the worse when it broke support of 0.00006 on July 7. Since then, the pair generated consecutive lower highs and lower lows until it finally established a bottom at 0.00001003 on October 23. At this price level, the market shed over 91% of its value from the lower high of 0.000115.

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HUC/BTC consolidated for a couple of months until it surged on December 23, and took out resistance of 0.00002. The breakout was so strong that it went as high as 0.00004084 on January 12, 2018. Breakout players exploited the ascent which ignited massive profit taking. Consequently, the market dipped, and went as low as 0.00001816 on February 6. This pullback is your opportunity to enter the market at the early stages of a possible bull run.

Technical analysis reveal that the Huntercoin/Bitcoin market is creating a bullish higher low setup at 0.00002. At this price point, breakout players have most likely sold all of their positions. The thin trading volume over the last seven days supports this assumption. In addition, volume surged on February 8 after the market went below 0.00002. This indicates that bulls are prepared to defend the new support level.  

The strategy is to buy as close to 0.00002 as possible. If bulls claim 0.00002, the market will likely use it to reach our target of 0.00004. The process may take a month.

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Daily Chart of Huntercoin/Bitcoin on Poloniex

As of this writing, the Huntercoin/Bitcoin pair is trading at 0.00002148 on Poloniex.

Summary of Strategy

Buy: As close to 0.00002 as possible.

Target: 0.00004

Stop:  0.000018

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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4.3 stars on average, based on 68 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.




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Trade Recommendation: Expanse

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The Expanse/Bitcoin (EXP/BTC) market lost all bullishness on January 20, 2018 when it generated a lower high of 0.0005369. Bears took complete control of the market 10 days later when the market broke the 0.0004 support level. While the market did bounce and reach as high as 0.00043384 on February 4, the rally was not strong enough to reclaim 0.0004. On the same day, the market closed at 0.00034183, validating the downtrend.

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Bears continued their rampage as they extended their reach to 0.0003. Bulls tried to defend the support level but the selling pressure was just too immense. On February 20, the market finally closed below 0.0003, which triggered another round of selling. While the breakdown might cause others to panic, this could be a good opportunity to buy positions.

Technical analysis show that the Expanse/Bitcoin market is well on its way to support of 0.0002. That level is the target of the head and shoulders reversal pattern that was triggered on January 30. The break below 0.0003 support affirms this view. In addition, the market would lose over 66% of its value if it touches 0.002. At that point, many participants would most likely be in a depressed state. That’s a good place to start picking up positions.   

The strategy is to buy as close to 0.002 as possible. If bulls successfully defend this level, the pair will likely bounce and reach our target of 0.004. The process may take a month.

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Take note: the market is still in a downtrend. We’re just playing the bounce.

Daily Chart of Expanse/Bitcoin on Poloniex

As of this writing, the Expanse/Bitcoin pair is trading at 0.00027006 on Poloniex.

Summary of Strategy

Buy: As close to 0.0002 as possible.

Target: 0.0004

Stop:  0.000183

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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4.3 stars on average, based on 68 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.




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