Connect with us

Recommendations

Trade Recommendation: WAX

Published

on

WAX is the #92 ranked cryptocurrency with a market cap of $64 million. Over the past several months, WAX token has crashed harder than most the other top 100 tokens. This is mostly do to news way back in June of Valve, the developer of the popular game Counter-Strike; Global Offensive (CS;GO), sending a cease and desist order to OP Skins. OP Skins responded by saying, “The future of digital item trading is instant, free, and peer-to-peer. Wax is being built to support a post-Valve trading economy. Valves’ decision was not unexpected, one company cannot kill the digital item trading industry.”

There are over 80 employees developing the WAX ecosystem. They already came out with their own skin making platform called VGO, it’s the most used Dapp in all of crypto. Through VGO, games can create and sell their own unique items on the WAX blockchain, similar to Ethereums ERC721 protocol. These NFTs will be designed to be interchangeable in future games. The first game to use them called, The Forge Arena is already being played.

The team has formed several new partnerships including Terra Virtua, a new startup apparently some are calling the “Netflix of VR”.

Just a couple days ago they announced WAX Stickers. A promising new concept that allows creating and selling unique stickers that can be used with skins or in other forms of social media.

Upcoming Catalysts

  • WAX is partnered with Robotcache, a platform to resell your digital PC games. Instead of doing an ICO, Robotcache is raising funds privately, and in Q4 will airdrop a small percentage of their IRON tokens to WAX holders.
  • WAX platform/protocol token will be issued to all WAX holders at a 1:1 ratio in Q4. This new token will be the backbone of the ecosystem.
  • Guild creation and voting starts in Q4. Guild leaders are allowed to reward WAX holders for votes.
  • WAX is still not listed on Binance.
  • October 28-29, they will be presenting at TwitchCon
  • October 30- Nov 2, presenting at World Crypto Con. Both of these conferences are huge.

Past 8 months chart in BTC

Summary of Strategy

The lowest price it has been is around 860 sats for a short period just last month. It currently sits at 1040 sats after a recent 10% spike.

Buy: Current price or lower 0.00001020

Target: 0.00001640 (try to hold thru the airdrop Q4, the exact date will be announced soon on Telegram. sell the old ETH-WAX right after receiving the new airdrop)

Stop: 0.0000850

Join the WAX community https://t.me/wax_io

Disclaimer: The writer owns WAX token.

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...

4.2 stars on average, based on 27 rated postsJoshua Larson is also known as the "Bullshit Man" for his ability to spot it a mile away. Avid ICO researcher and contributor. Former professional poker player/backer. Spent 10 years analyzing hand history, stats, and player data. Discovered blockchain in late 2016, and never looked back. He now uses his analysis skills to investigate ICOs full time. What a perfect match, because in today's crazy world of ICOs, information, passion, and diligence = dollar bills!




Feedback or Requests?

Recommendations

Trade Recommendation: Mainframe

Published

on

We’ve been watching Mainframe (MFT/BTC) ever since it breached support of 0.0000013 on November 13, 2018. At that point, we were curious whether the market will establish a bullish higher low at 0.000001 or will it revisit 2018 lows of 0.0000007.

Mainframe chose the latter as it broke below support of 0.000001 on November 30. The retest on December 3 was the confirmation that the market was headed to our range low of 0.0000007. The next question was whether the support will hold. We got the answer to that question recently.

Technical analysis shows that MFT/BTC is respecting support of 0.0000007. This price action has enabled the market to print a double bottom pattern on the daily chart. This means that the market has created a durable bottom and prices likely won’t fall any further. Also, notice how volume surged on January 8, 2019 when the market touched 0.0000007. This tells us that bottom-pickers and bargain hunters are ready to absorb selling pressure at this level.

In addition, we are confident in Mainframe’s technical setup because we’ve seen the same structure in other altcoins. For instance, Zilliqa (ZIL/BTC) has almost the same structure. Zilliqa relied on this pattern to stop the bleeding and generate bullish momentum. We expect MFT/BTC to do the same.

The strategy is to buy as close to 0.0000007 as possible.  As long as this Mainframe stays above this level, it will likely rally to our targets of 0.000001 and 0.0000013.

The process may take more than a month.

Daily Chart of Mainframe/Bitcoin on Binance

As of this writing, the Mainframe/Bitcoin pair is trading at 0.00000075 on Binance.

Summary of Strategy

Buy: As close to 0.0000007 as possible.

Targets: 0.000001 and 0.0000013.

Stop: 0.00000067

 

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...

3.8 stars on average, based on 309 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.




Feedback or Requests?

Continue Reading

Recommendations

Trade Recommendation: ETHLend

Published

on

ETHLend (LEND/BTC) is a market that looks poised to touch the range high. Let me explain. This pair started to build its base on August 14, 2018, when it dropped to as low as 0.0000018. ETHLend worked hard to carve a bottom at that level. However, bears managed to breach the support on September 11. This drove ETHLend to its 2018 low of 0.00000141 on September 12.

Fortunately, bulls came to the rescue and lifted the market back up to 0.0000018 support on September 16. The move below the support became a bear trap. This ignited a strong rally to 0.00000431 where it was rejected by the 200-day moving average on October 28. Participants who saw this signal dumped their positions. As a result, ETHLend revisited the range low of 0.0000018.

The good news is the dump allows us to bottom pick the market.

Technical analysis shows that LEND/BTC has created a double bottom pattern on the daily chart. This structure tells us that the market has established a durable bottom at 0.0000018.

In addition, the market printed huge volume on January 14, 2019. The heavy volume pushed the market up to 0.0000027 where it was once again rejected by the 200-day MA. Nevertheless, the volume uptick is a signal that market is almost done accumulating. If that’s the case, we can expect ETHLend to pump in the coming days.

The strategy is to buy on dips as close to 0.0000018 as possible. As long as bulls hold this support, they will likely ignite a rally to the range midpoint of 0.0000026 and then the range high of 0.00000342 that was mentioned in the beginning of the article.

The process may take less than a month.

Daily Chart of ETHLend/Bitcoin on Binance


As of this writing, the ETHLend/Bitcoin pair is trading at 0.00000232 on Binance.

Summary of Strategy

Buy: On dips as close to 0.0000018 as possible.

Targets: 0.0000026 and 0.00000342.

Stop: 0.00000174

 

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...

3.8 stars on average, based on 309 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.




Feedback or Requests?

Continue Reading

Recommendations

Trade Recommendation: NEO

Published

on

NEO (NEO/USD) looks like a market that wants to break out of accumulation. The market started the accumulation process on December 7, 2018 when it established support of $5.50. This crypto traded around that level for a couple of weeks until a surge in volume showed participants that the market was ready to move higher. The volume uptick ignited a rally that sent the market to as high as $9.36 on December 24, 2018.

If the market was still bearish, NEO would have dumped back down to $5.50 support or even went below it. However, the market generated a higher low set up of $6.92 on December 28, 2018. That was enough for many to start placing long positions in the market.

Technical analysis shows that NEO/USD breached resistance of $9 on January 8, 2019. This triggered the break out from an inverse head and shoulders pattern on the shorter time frames. As a result, the market rallied to as high as $10.08 on January 9.

While NEO is currently pulling back, the rally gave the market its first higher high in months. If NEO can stay above support of $7.30, the market’s sentiment will turn from neutral to slightly bullish.

The strategy is to buy on dips as close to $7.30 support as possible. The 100 moving average on the 12-hour chart as well as the 200 moving average on the 4-hour chart are crawling around that price area. They will help keep the price above the support.

Should the price manage to stay above $7.30, the market will likely generate the momentum to rally to our target of $9.00. Take that out and the next target is $13.50.

The process may take a less than month.

12-hour Chart of NEO/US Dollar on Binance

As of this writing, the NEO/US Dollar pair is trading at $7.86 on Bitfinex.

Summary of Strategy

Buy: As close to $7.30 as possible.

Targets: $9.00 and $13.50.

Stop: $7.10

 

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...

3.8 stars on average, based on 309 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.




Feedback or Requests?

Continue Reading

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