QKCBTC
Looks like the correction is over, forming W pattern at the bottom. However to be safe wait for confirmation, consolidation at the top W pattern look for a trend line breakout.
W Pattern
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We are trading above trend line and first target reached
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Our Indicators are turning Bullish, MACD is turning to upside, SRSI is moving up and SMI just trigger a signal. in addition TD is starting with a strong green follow for a green 2 trading above green. Moreover, price action is above EMAs.
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Second Target reached: QKC has held and consolidated at 740 and set up itself for the next target.
Whats next?: If QKC managed to hold 800S, meaning do not break the current trendline, we could see a break out in the next few hours, otherwise, it will correct itself to 780S.
Indicators:
- SRSI is about to get over sold but that does not mean we are going to correct. its just describing the current trend.
-MACD: Looks like is losing strength, however it can bounce back keep going up.
-SMII: looks bullish to me.
Lets see how this develop in the next hours.
Whats next?: If QKC managed to hold 800S, meaning do not break the current trendline, we could see a break out in the next few hours, otherwise, it will correct itself to 780S.
Indicators:
- SRSI is about to get over sold but that does not mean we are going to correct. its just describing the current trend.
-MACD: Looks like is losing strength, however it can bounce back keep going up.
-SMII: looks bullish to me.
Lets see how this develop in the next hours.
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Trade closed: target reached:
As you can see we have reached our target. I expected a lot of volatility during this period. BTC has broken a key support. Ill be watching closely the market from the sides.
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Trade review
Trade closed: target reached
