Crypto_Mercy

QBTC - Bitcoin / Price on the roof of the rising channel

Short
TSX:QBTC.U   BITCOIN FD
Hi everyone,
Canadian should be proud to get the first Bitcoin ETF. I would like to share my analysis with you.

There is 4 gap up to watch (possible retracements) :
Maybe you know but Gap up are not always covered.
bottom of gap 1 : 25.45
bottom of gap 2 : 22.99
bottom of gap 3 : 15.82
bottom of gap 4 : 11.61

Negative Points found / short term
-Price is now under the 1D VWAP (dangerous)
-Price touched the roof of the channel
-Price is over the bollinger band
-RSI in overbought territory
-Bearish RSI Divergence now visible on 3h chart
-Macd loosing momentum on the 3h and 4hr chart

Possible retracement from the last top if bulltrend is over :
0.5% fib : 15.88$
Golden fib 0.618 : 12.13$
0.85% : fib 4.76$

Probable retracement from the last high if bulltrend continue :
Golden fib : 18.32$
0.5% fib : 20.88$

Most healthly support if Bull trend continue.
EMA RIBBON currently in this rand : 22-23$
MA 21 (DAILY) currently at 23.23$
Bottom of Bollinger band : 17.41$
Bottom of Donchian Channel : 18.91$
Median of Donchian Channel : 25.31$

Thanks for leaving comment or anything else :-)
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