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Trade Recommendation: ZRX

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The 0x/Bitcoin pair (also known as ZRX/Bitcoin) is in the midst of a strong bull run that started on January 8, 2018 when the market surged above 0.0001. It went as high as 0.00017 on January 13 before it succumbed to profit taking. As selling commenced, the market retreated to 0.00010570 on January 16 which was its new higher low back then. It then resumed the ascent and reached as high as 0.00019234 on January 27. Sellers exploited the opportunity and dumped their shares which forced the market to pullback.

Pullbacks in a bull run, however, are very healthy. New buyers absorb the selling pressure and keep the market steadily rising by holding on to their positions. On January 30, the market created another bullish higher low of 0.00015020.

Technical analysis reveal that the market is creating a bullish continuation pattern. Participants only need to wait for the consolidation period to pass, and the market will once again resume its climb. That’s usually the case when the market is still in the early stages of its uptrend.  

The strategy is to buy as close to 0.00016 support as possible. Once selling is over, the market will likely march to our target of 0.00022. The entire process can take about a month.

Daily Chart of 0x/Bitcoin on Poloniex

As of this writing, the 0x/Bitcoin pair is trading at 0.00017320 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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3.7 stars on average, based on 251 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: Stellar

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Our July 10 trade recommendation for Stellar (XLM/USD) hit its target on July 17 when it went as high as $0.2564. Those who followed the trade suggestion grew their investments by over 40% in one week.

While Stellar overshot our target price and climbed as high as $0.352 on July 25, we were satisfied not to chase the rally. At that point, the market was trading in overbought territory. In addition, it was flashing a bearish divergence. We’re happy to wait for the dip to get our next chance to buy. It looks like that opportunity is presenting itself.

Technical analysis shows that XLM/USD is poised to breach resistance of $0.255. This would trigger the breakout from the large symmetrical triangle on the daily chart. Stellar has been trading inside this pattern since May 2018. A clear breakout should generate a lot of bullish momentum.

Also, the daily RSI is in great shape. It just bounced off support of 37 after flashing overbought readings on September 23. This tells us that the RSI has cooled off so it has the room to accommodate a monster rally.

Last, we’ve been hearing rumors that Coinbase might potentially add Stellar to its exchange. This type of development could help ignite a breakout.

The strategy is to buy the breakout at $0.255 after the market generates volume of at least 2.5 million Stellar units. The market is up against a long-term resistance area. In other words, you can expect heavy selling at $0.255. Stellar needs buyers to alleviate the selling pressure.

Once breakout is complete, the market will likely have the momentum to rally to our target of $0.35 first and then $0.45. The process may take more than a month.

Daily Chart of Stellar/US Dollar on Bitfinex

As of this writing, the Stellar/US Dollar pair is trading at $0.24958 on Bitfinex.

Summary of Strategy

Buy: Breakout at $0.255 after volume of 2.5 million Stellar units.

Target: $0.35 first and then $0.45.

Stop: $0.24 after the 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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3.7 stars on average, based on 251 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: WAX

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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.

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4.2 stars on average, based on 26 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!




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Trade Recommendation: Dogecoin

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Our August 31, 2018 trade recommendation for Dogecoin/Bitcoin (DOGE/BTC) hit its target on the same day as the market skyrocketed to as high as 0.00000070. Those who followed the trade recommendation grew their investments by as much as 55% in 24 hours.

What we did not expect was the meteoric ascent of DOGE/BTC at the time when the altcoin market was generally bearish. On top of that, the market was already trading in overbought territory, not to mention the emergence of the bearish divergence on the daily chart. Nevertheless, the pair climbed as high as 0.0000011 on September 10 regardless of overheated signals.

Even though we left money on the table, we’re confident that we’ll have another shot at DOGE/BTC. We waited for weeks for the market to get to our desired level. We’re getting that chance today.

Technical analysis shows that DOGE/BTC is touching 0.00000072 support, which is the 61.8% Fibonacci level. This is a key area for the market because 0.00000072 is a former resistance. In addition, experience has shown that markets tend to bounce at the 61.8% Fibonacci level after a massive selloff.

Another thing that points to a bounce is the nearly oversold readings on the daily RSI. Since October 2017, DOGE/BTC has bounced significantly after hitting oversold territory. This gives us confidence that the market will once again bounce once it gets oversold.

The strategy is to buy at current price levels. If the market stays above 0.00000067, it will have the momentum to rally to our target of 0.0000011. The process may take more than a month.

Daily Chart of Dogecoin/Bitcoin on Poloniex

As of this writing, the DOGE/BTC pair is trading at 0.00000072 on Poloniex.

Summary of Strategy

Buy: Current price of 0.00000072.

Target: 0.0000011

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.

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3.7 stars on average, based on 251 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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