YET ANOTHER COST OF LIVING IN CHIANG MAI, THAILAND
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The US Dollar/Thai Baht pair (USD/THB) launched its bull run in June 2013 when it took out resistance of 31. The price action attracted trend followers and breakout traders which helped push the USD/THB pair to as high as 36.668 in October 2015. In a couple of years, the US Dollar rose by over 18% against the Thai Baht.
At this point, however, the market was in overbought territory. Those who bought the breakout took it as a signal to lock their gains. With sellers dominating the market, USD/THB nosedived to 31.088 in March 2018. The market may look extremely bearish, but it appears that the bottom is in sight.
Technical analysis reveal that the US Dollar/Thai Baht pair may have capitulated in February 2018 when it printed over 262% of its average monthly volume. Volume also surged in March 2018 when the pair hovered above 31 indicating that bulls are buying the support. Furthermore, a bullish divergence was spotted on the RSI. This tells us that the pair is gathering the momentum it needs to end the downtrend.
The strategy is to buy as close to 31 possible. If bulls preserve the support, the USD/THB will likely use it to rise to our target of 36. The process may take a year.
As of this writing, the USD/THB pair is trading at 31.19 on
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
. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom
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.
Kiril 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.
Crypto Update: Ethereum Classic on Track for a Bullish Reversal
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The Wanchain/Bitcoin (WAN/BTC) pair went as low as 0.0000971 on August 14, 2018. At that point, the altcoin was down by over 90% from this year’s high of 0.0010753 on May 3.
While this may look scary to many retail investors, it’s actually a good idea to be a contrarian. WAN/BTC has lost so much over a three-month period that bears should most likely be exhausted. That’s what we’re seeing right now.
Technical analysis shows that WAN/BTC has breached resistance of 0.000145 on August 25. This triggered the breakout from the large falling wedge on the daily chart. It appears that the fall to 0.0000971 attracted bottom pickers and bargain hunters. This helped the market gather the volume and the momentum needed to finally reverse its trend.
Speaking of volume, WAN/BTC registered extremely high volume a day after the breakout. The pair has not reached that volume level on the daily chart since April 13, 2018. This tells us that bullish sentiment is back. Participants are buying now as they expect significant profits in the short and long term.
Lastly, Wanchain/Bitcoin has also broken out of its RSI resistance of 44. This level has kept the market bearish since May. The RSI surge is another indication that momentum favors the bulls.
The strategy is to buy as close to 0.000145 as possible. Wanchain/Bitcoin is creating a shooting star candle suggesting that bottom pickers are taking profits. This should give you a chance to buy the dip.
As long as the market is above 0.000145, WAN/BTC is likely to have the momentum needed to climb to our target of 0.0003.
As of this writing, the Wanchain/Bitcoin pair is trading at 0.0001855 on
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.
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
. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom
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.
Kiril 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.
The Money Makers Club now has 6 of 15 available seats. Learn more here!
The 0x/US Dollar (ZRX/USD) pair is down by over 90% from the 2018 high of $7.10. For the most part of this year, ZRX has been trading in wide range between $2.50 – $0.35. Those who were able to buy the bottom of the range have made a killing as they were able to grow their investments by over 500%.
However, with the range beginning to narrow, it seems that those days are over. Bears have been recently flexing their muscles as they’ve managed to put two lower highs in place. Nevertheless, it looks like there’s an opportunity to trade the next rally.
Technical analysis show that ZRX/BTC has broken out of a small falling wedge pattern on the daily chart. This pattern is within a large symmetrical triangle. This view comes after the pair came off lows of $0.62 on August 14. The bounce showed that 0x respects the trendline. This emboldened bulls to break out of the falling wedge.
In addition, the RSI is also showing signs of bullishness. It also broke out from its own falling wedge. While the RSI is currently retreating, we can expect the former resistance to act as support. Should the new support hold, we might see a surge in bullish momentum.
The strategy is to buy as close to $0.66 support as possible. The triangle is currently in the latter stages of the E-wave, which is often the last leg down. If bulls defend the support, we will likely see a quick rally to $1.00.
As of this writing, the 0x/US Dollar pair is trading at $0.7134 on
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.
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
. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom
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.
Kiril 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.
The Money Makers Club now has 6 of 15 available seats. Learn more here!
The Zilliqa/Bitcoin (ZIL/BTC) pair came off lows of 0.00000391 on August 14, 2018. At that point, the market was down by almost 88% from the 2018 high of 0.00002508 on May 10. The positive news is that it seems that the bounce from the historic support of 0.000004 is not a dead cat one. If that’s the case 1 Usd To Baht Chart , then the three-month bear run may be finally over.
Technical analysis show that ZIL/BTC has breached resistance of 0.000005 on August 18. This triggered the large falling wedge on the daily chart. The breakout was affirmed by heavy volume. On that day, the pair printed over 140% of its average daily volume.
In addition, the RSI is also showing signs of bullishness. It also broke out from its own falling wedge. This is an indication that bullish momentum is back.
The strategy is to buy on dips as close to 0.0000055 as possible. Right now, the 21-day moving average is acting as immediate resistance so we can expect a slight dip. This should give you a chance to buy near the breakout.
If ZIL/BTC stays above 0.0000055, it is likely to climb to our target of 0.000008.
the Zilliqa/Bitcoin pair is trading at 0.00000597 on 1 Usd To Baht Chart , the Zilliqa/Bitcoin pair is trading at 0.00000597 on
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.
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
. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom
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.
Kiril 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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