Watch These Cryptocurrencies Today | Hacked: Hacking Finance
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Analysis

Watch These Cryptocurrencies Today

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Watch These Cryptocurrencies Today

Introduction

This article was posted on Monday, 10:13, UTC.

I share the sentiment expressed by another writer in these pages. This is looking like it will be an exciting week for MANY cryptocurrencies. In fact, the dilemma for me seems to be trying to decide which currencies are going to offer the greatest returns. It feels kind of like being a kid in a candy shop.

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In summary, I like bitcoin with a target of $1440, Ethereum with a target of $64, Ripple with a target of .081. There are too many to focus on in a single column.

My last 2 columns focused largely on Zcash, which went from $55 to $80 over the weekend. It has since pulled back, offering buyers another chance to buy in at lower prices. Target for ZECUSD is an even $100.

Ethereum Classic (ETC)

Today I am going to look at Ethereum Classic. I am sure that there are few crypto traders who are unaware of the DAO hack and controversy of last summer that led to the fork creating Ethereum. Some traders may only be vaguely aware that the original blockchain and currency continues under the banner of ETC. It will likely greatly surprise readers to know that the original currency has almost doubled, under the radar, in the last month.

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As you can see, the coin’s price has been showing a fair amount of respect for the setup shown above for some time. It should therefore come as an item of interest that price has just closed above the 1st arc of the 3rd arc pair. It wasn’t a “convincing” close. In other words, it is close enough to the arc to be called “at resistance”.

So, this is not yet a buy signal. However, I note that there is an energy point coming in the near future (vertical line). That energy point is about 24 hours from now.

I have a suspicion that when/if the arc pair has been cleared a rally to $3.50+ is likely. Longer term the target is quite a bit higher, in the $6 range.

Wait for confirmation, but keep an eye on this coin.

Ripple

Ripple is sitting just below shorter-term resistance at the first arc of a setup from the low last week. I will likely be a buyer when/if price closes above that arc.  First target will be in .053 range.

Remember: The author is a trader who is subject to all manner of error in judgement. Do your own research, and be prepared to take full responsibility for your own trades.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Jim Fredrickson

Jim Fredrickson

Jim has an MBA from the University of Southern California. He has had a long career in both Corporate Finance and IT. Along the way he discovered that trading was a vehicle with great promise, but struggled for a long time without a mentor. After having been knocked down many times and having struggled to get back up, he had an epiphany and realized that geometry was a solution. He shares his experience here. If you do well as a result of suggestions made here, feel free to say thank you :) BTC: 1FUq3GB1Q8zz2JpuBr7YHzVBKnaWoxgmya Follow him on Twitter (@jimfred1276) or email him at jimfred1276 at gmail.

Comments
  • user

    AUTHOR And

    Posted on 10:26 am April 10, 2017.

    Jim, thank you very much!!

  • user

    AUTHOR mouse

    Posted on 10:56 am April 10, 2017.

    hello jim,

    i really like your analysis and i read it now for quite a while .
    it is really helpful!!!
    i want to ask your help and your insight for litecoin since i am holding
    a great number of them and i do not know what to do .
    i need your advice since my weekend wasn t very good in trading …
    i tried to play long but all i got was loses….i tried shorting and again loses
    your help means a great deal to me

    thanks

    • user

      AUTHOR jedadoo

      Posted on 2:41 pm April 11, 2017.

      Mouse, their recommendation was to sell at 8.85 . I sold there and so did they. It was my second trade with hacked.com so I was quite disappointed, but understand that it just the way it is.

      • user

        AUTHOR Jim Fredrickson

        Posted on 2:17 am April 12, 2017.

        Not sure i remember giving advice to sell anything at 8.85 ?? … Maybe I’m just having a senior moment…
        In any case, trading is like playing poker. No one sits at the table expecting to win every hand. One just hopes to win more than they lose.
        Always protect your capital and take losses while they are still small. If you have no idea what the market is going to do, exit, even at a loss, and wait until you think you know before re-entering.
        I have taken small losses on my last few trades, because sideways movements developed. I don’t like it, but I understand that is the way the game is played. I know that the next trend will come. If I catch it, those small losses will be insignificant.
        If you are leveraged and making a ton of cash because you are in a good trade, lighten your position as the market blesses you. Otherwise, when the reversal occurs you will lose everything you made during the run. It happens all the time.

    • user

      AUTHOR Jim Fredrickson

      Posted on 2:09 am April 12, 2017.

      Litecoin is trading sideways for now. A number of other coins are as well. I hate trading sideways markets. If you are unleveraged, imho, just sit tight. If you a re leveraged and stressed out all the time, lighten your position and wait for a trend to develop before re-entering. just my opinion.

  • user

    AUTHOR cryptohub

    Posted on 12:08 pm April 10, 2017.

    As regards LTC, RIPPLES, ETC, and ZEC, could to use ZECBTC,LTCBTC, and RIPPLEBTC in your Analysis, for the sake of users that doesn’t trade USDT?

  • user

    AUTHOR Chanh2308

    Posted on 1:10 pm April 10, 2017.

    Hello Jim,
    I’m newbie of hacked.com, and I don’t understand about color arcs in charts. Can you help me to solve this problem to invest cryptocurrencies.
    Thank you so much for your support!

    • user

      AUTHOR jedadoo

      Posted on 4:26 pm April 10, 2017.

      I could use more info on these too and how they indicate trends.

    • user

      AUTHOR Jim Fredrickson

      Posted on 2:20 am April 12, 2017.

      It’s far too involved to explain here. Just know that virtually every line and arc on those setups are resistance and support. 1st, 3rd and 5th arc pairs are the strongest. Tops of squares are also strong, and end-of-squares are often places where reversals happen.

  • user

    AUTHOR And

    Posted on 6:21 pm April 10, 2017.

    Jim, thanks again for today’s article – when you say, “when/if price closes above that arc”, do you mean “close” on 4-hr chart?

    • user

      AUTHOR Jim Fredrickson

      Posted on 2:22 am April 12, 2017.

      My charts are usually 3 hour charts. But yes, that is what I mean. We get tricked often when price gets over S/R, enticing us to enter a position early, but then the chart reverses before the close, back to the other side of S/R. Happens alot. Best to wait for a close on the sunny side of S/R; but we tend to be greedy and impatient.

  • user

    AUTHOR anandam1984

    Posted on 4:55 am April 11, 2017.

    Hey Jim, I am new to hack. I have large number of Ethereum. should I hold or sell?

    • user

      AUTHOR Jim Fredrickson

      Posted on 2:23 am April 12, 2017.

      Depends if you are leveraged or not. If not, I would not sell at these levels. If you are, you might want to exit and wait for a trend to develop before re-entering. just my opinion.

  • user

    AUTHOR nguyentuan

    Posted on 1:30 pm April 11, 2017.

    Thank so much Jim

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