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Analysis

Trade Recommendation: Zcash

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The daily chart of Zcash shows us a good trading opportunity. After huge downward movement from 400.00 level, the market reached the bottom between 165.00 and 140.00 levels. Now it’s a good support zone and starting point for possible buying. A new swing low allows us to draw a new uptrend line which will be used for getting trading signals in future. Also this new swing low is higher than the previous one and it’s an additional confirmation for possible upward movement.

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We have a strong bullish candle which broke the downtrend line. It gives us a buy signal. The high of this candle gives a level for placing pending orders. We could do it but 195.50 level is near with 200.00 strong resistance. It will be better to place pending orders above 200.00 level. If the market breaks this resistance, we’ll get an additional confirmation for further upward movement.

For placing stop orders we can choose between 2 variants. If you don’t want to risk much, you can place a tight stop order below the new swing low and 165.00 support level. But note that if the market can’t break 200.00 resistance with the 1st attempt, probably there will be a short term retracement to 165.00 support level and the main uptrend line. If we see such price movement, the long trades will be closed. The other variant for placing stop orders can be based on the previous swing low. It’s below 140.00 support level. This variant is more convenient for long term trading and allows pass the deep retracements. Profit target should be placed near 300.00 resistance level. The part of long positions can be left for the 2nd profit target at 400.00 resistance level. If you don’t use leverage, recommended trading volume should be upto 5% from your deposit.

Buy: 203.00
Stop: 139.00
Profit Targets: 298.50 and 398.50

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The trading signal is based on Poloniex chart.

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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7 Comments

7 Comments

  1. Synfl00d

    August 2, 2017 at 3:33 pm

    Would it be possible to give us also the BUY, STOP signals in EUR? I think there a a lot of people here which invests in EUR rather than USD.

  2. Dmitriy Lavrov

    August 2, 2017 at 8:09 pm

    You mean altcoins / EUR?

  3. Synfl00d

    August 3, 2017 at 8:31 am

    Yes exactly

    • Dmitriy Lavrov

      August 3, 2017 at 11:24 am

      Ok, I will provide a part of trading signals based on Kraken charts and for EUR.

      • fermera_dany

        August 3, 2017 at 8:05 pm

        That would be very nice.
        I am also using Kraken and Euro accounts.

        I am doing some maths on my own currently, but an EUR price right next to the USD one (or Kraken based suggestions) will help me a lot.

        Thank you in advance.

        Looking forward to your next posts.
        Cheers

  4. Synfl00d

    August 3, 2017 at 11:31 am

    Perfect! Thank you, I’m using Kraken

  5. Inverstor Clouseau

    August 9, 2017 at 12:31 pm

    Great stuff. I love this site so far

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Analysis

Market Update: Bitcoin at $10,000, Ripple at $1, Ethereum below $1000 as Carnage Continues

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Yesterday’s China induced technical breakdown led to an unmitigated disaster in the crypto segment, as all of the majors crashed, erasing hundreds of billions of market cap in the process. The collapse of the alleged Ponzi scheme of Bitconnect added insult to injury and caused another wave of selling in late trading, driving the price of Bitcoin to $10,000, a bit earlier than expected.

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BTC/USD, 4-Hour Chart Analysis

The most valuable digital currency rebounded as much as 15% after the late-session crash, but the selling pressure remained strong and today BTC briefly traded below yesterday’s low, with most of the majors holding up above the crash low.

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That said, the sell-off is unlikely to be over and volatility is probably here to stay for the week, with violent swings in both directions. The coin is still likely to push lower, with a possibly lengthy bottoming phase, so a quick recovery to the record highs is unlikely, but strong support is found below $10,000 at $9200, $8200, and $7650.

Traders should be aware of the elevated risk in short-term positions here, while long-term investors could slowly accumulate positions on the sell-offs, as the coins are headed to oversold territory.

A Little Perspective

(more…)

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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Analysis

Long-Term Cryptocurrency Analysis: Broad Correction Enters Next Phase

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The overbought BTC-led correction that has been the dominating technical process in the cryptocurrency segment in the last month or so continued in earnest today, amid the intensifying regulatory steps concerning the sector. The three-week-long consolidation that followed the initial mini-crash concluded with a sharp sell-off overnight rearranging the long-term charts, while likely kicking off another volatile period.

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While most of the crash lows held up today in early trading in the majors, especially in the case of the late leaders like Ethereum and NEO, some of the relatively weaker coins are already trading below the December minimums. We expect most of the majors to follow Dash and LTC, the weakest of the largest coins, lower and trade below the previous lows, as sentiment will likely swing to a bearish extreme.

The $11,300 level has been in the center of attention throughout the session today and the most valuable coin experienced heavy trading around the level as expected. As the daily MACD is still in neutral territory, the coin could be in for another leg lower, but after the 40% correction and the rather lengthy consolidation, investors could be looking for entry points during the move near the key support levels at $10,000, $9000, and the stronger levels at $8200 and $7700.

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BTC/USD, Daily Chart Analysis

As Ethereum is in a different part of its cycle the long-term momentum readings are still overbought, and that could mean a more protracted correction for the second largest coin. That said, following a multi-month consolidation like the one in Ethereum before, we still expect the token to outperform BTC from a long-term technical standpoint. ETH is now below the short-term trendline, and it’s likely to dip below $1000, and the prior top at $850. Further key levels are found at $740, $625, $575, and near $500.

ETH/USD, Daily Chart Analysis

Let’s see the outlook for the other major altcoins after today’s bloodbath.

(more…)

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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Analysis

Crypto Update: Chinese Crackdown Triggers Next Leg of Correction

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The cryptocurrency segment is crashing again, with double-digit losses across the board, and with several coins shedding around 30% in one day amid the widespread and heavy selling. The sell-off was triggered by reports on a new set of measures by the Chinese authorities limiting crypto trading, which added to the still looming South Korea related regulation worries. Bitcoin tested the mini-crash lows at $11,300 today in early trading, dipping slightly below that level before a strong bounce started.

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The most valuable coin is now between two crucial support/resistance lines, with the other ahead at $13,000, and as the downtrend is entering its more mature phase the $10,000 and $9,200 levels could come in play, with a possible dip to the support zone near $7,650.

BTC/USD, Daily Chart Analysis

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Interestingly, the coin is still hovering within the daily range of the crash of December 22nd, and that points to a very active and volatile period ahead near the low at $11,300, as automatic orders will likely get triggered on both sides of the market.

The short-term setup is bearish, and although it’s possible that the primary support level will hold, odds still favor another leg lower, following the exponential run-up at the end of last year that pushed sentiment into bullish extremes.

BTC/USD, 4-Hour Chart Analysis

Altcoins

(more…)

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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19 votes, average: 4.79 out of 519 votes, average: 4.79 out of 519 votes, average: 4.79 out of 519 votes, average: 4.79 out of 519 votes, average: 4.79 out of 5 (19 votes, average: 4.79 out of 5)
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