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Trade Recommendation: ZCash

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The symbol ZECUSDT wants to increase the cash to the upside. Yesterday on the daily chart we see the price has surpassed and closed above the Monthly Pivot Range high. This is a significant event in that it confirms the last week’s move as something sustainable with the bias shifting from the many weeks of bearishness, to one of bullishness.

The 14 Day Pivot Moving Average (red line) has crossed the yellow 30 Day Pivot MA and is approaching the crossover of the white 50 Day Pivot MA. This is bullish. There are no other key Pivot levels that are in the way of a long term move up.

The action to take is to place a buy order to enter the market long. The support level near term should be the Monthly Pivot high but look for longer term support all the way down to the Monthly Pivot low. This is a long term trade so be patient by placing your stop loss far enough away to avoid getting prematurely stopped out.

This is a good risk reward ratio within a high probability setup with a lot of support.

Entry Price: 307.00
Stop Loss: 222.00
Profit Targets: First profit target 415. Second profit target 495. Once price reaches 355.00 raise the stop loss to breakeven, then as the market moves higher trail the stop loss 40.00 points back until you hit the profit targets or stopped out.

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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3.7 stars on average, based on 78 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: Lisk

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Lisk/Bitcoin (LSK/BTC) has been brutally clobbered this year. The pair lost around 90% of its value from the high of 0.003398 on February 10, 2018. The good news is that bulls have had it. They are taking no more. Recent price action shows their conviction.

Technical analysis reveal that LSK/BTC has broken out of a long falling wedge pattern on the daily chart. The breakout looks convincing because of the reasons below.

First, the pair generated above average volume in the last four days. This is a good sign that bulls are buying the market. In fact, the last time LSK/BTC printed such heavy volume was back in April 2018.

On top of that, LSK/BTC has also broken out of a falling wedge on the daily RSI. The breakout looks legitimate as it was a sharp rally rather than a quick peek. In addition, we see a large bullish divergence on the MACD as well as a bullish cross.  All these signals indicate that LSK/BTC has returned from the dead.

The strategy is to buy the retest of the breakout as close to 0.00048 as possible. If bulls defend this level, it is very likely that there will be a quick rally to our initial target of 0.0007. We’ll revisit the trade once the target is hit.

The process may take less than a month.

Daily Chart of Lisk/Bitcoin on Poloniex

As of this writing, the Lisk/Bitcoin pair is trading at 0.00052094 on Poloniex.

Summary of Strategy

Buy: Buy as close to 0.00048 as possible.

Target: 0.0007

Stop: 0.00046

 

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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3.6 stars on average, based on 223 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: Bread

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The cryptocurrency markets, especially altcoins are facing a brutal week. So many pairs are either in oversold or extreme oversold territory. While it may look scary to enter long positions at this point, it’s actually a good idea to be a contrarian. The immense selling in the past few days puts bulls in a good position to annihilate short positions.

In line with that, we believe Bread/Bitcoin (BRD/BTC) is poised for a strong rally.

Technical analysis show that BRD/BTC looks ready to break out of a large falling wedge on the daily chart. Yesterday’s pin bar candlestick supports this assumption. This shows that bottom pickers are buying the support.

In addition, we can see a bullish divergence on the daily RSI. This also affirms the idea that the market is gaining bullish momentum.

Lastly, the pair appears to be at the apex or at least near the apex of the falling wedge. With a bounce underway, bears would be hard-pressed to generate a lower high that’s so close to the support.

The strategy is to buy the breakout at 0.000055 after the pair prints volume of more than 2.3 million Bread units. Bears will try to put up a fight to keep market control. BRD/BTC needs buyers to absorb the selling pressure.

Once breakout is complete, the ensuing rally would likely take the pair to our target of 0.000075.

The process can take less than one month.

Daily Chart of Bread/Bitcoin on Binance

As of this writing, the Bread/Bitcoin pair is trading at 0.00004612 on Binance.

Summary of Strategy

Buy: Breakout at 0.000055 with volume of 2.3 million Bread units.

Target: 0.000075

Stop:  0.0000524 after breakout.

 

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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3.6 stars on average, based on 223 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: Monero

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The Monero/US Dollar pair (XMR/USD) climbed as high as $469.50 on December 20, 2017. This marked the end of an impressive bull run that saw the pair grow by more than 700% in four months. From this point, the XMR/USD has been in a downward spiral. The good news is that a significant bounce is on the horizon.

Technical analysis reveal that XMR/USD is showing signs of a potential rally. First, we see the pair about to hit the apex of the large falling wedge on the daily chart. This pattern is so large that it is also visible on the weekly chart.

A quick look at the falling wedge shows that the market always bounces when it drops to the support. The market is currently sliding down the support side of the wedge. This gives us reason to believe that a bounce is in play.

On top of that, XMR/USD is also about to touch its long-term support. This trend line has existed since March 2017. The strength of this support should make it difficult for bears to push the price further down.

Lastly, we can see a bullish divergence on the daily RSI. This tells us that XMR/USD is gaining momentum. This signal also affirms our arguments that the support will hold and that will lead to a significant bounce.  

The strategy is to buy as close to $80 as possible. Should bulls hold on to this key support, they will likely inspire a rally to our target of $125.

The process may take less than a month.

Daily Chart of Monero/US Dollar on Kraken

As of this writing, the XMR/US Dollar pair is trading at $82.59 on Kraken.

Summary of Strategy

Buy: Buy as close to $80.00 as possible.

Target: $125

Stop: $75

 

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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2 votes, average: 3.00 out of 52 votes, average: 3.00 out of 52 votes, average: 3.00 out of 52 votes, average: 3.00 out of 52 votes, average: 3.00 out of 5 (2 votes, average: 3.00 out of 5)
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3.6 stars on average, based on 223 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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