After the failed breakout we saw QLink break down.
BTC not breaking $10k as we all hoped only further exacerbated that and we broke the 1st resistance level.
It's currently testing that key support level around 2040 satoshi's.
If BTC holds we can see QLink consolidate a little further before testing that first resistance level around 2200 (roughly).
The EMA's are playing catchup with the 10 closing in. I expect some bullish movement within the next day or 2.
All of this will play out IF Bitcoin can hold and stop dumping.
****THINGS TO CONSIDER****
QLINK WILL BE AT CONSENSUS 2018. That is within the next week. If there is a big announcement then we can expect some positive price action.
Personally, I've opened a few positions in the projects that will be in attendance. As always, you can expect the news that is released to be hyped up by the community.
BTC not breaking $10k as we all hoped only further exacerbated that and we broke the 1st resistance level.
It's currently testing that key support level around 2040 satoshi's.
If BTC holds we can see QLink consolidate a little further before testing that first resistance level around 2200 (roughly).
The EMA's are playing catchup with the 10 closing in. I expect some bullish movement within the next day or 2.
All of this will play out IF Bitcoin can hold and stop dumping.
****THINGS TO CONSIDER****
QLINK WILL BE AT CONSENSUS 2018. That is within the next week. If there is a big announcement then we can expect some positive price action.
Personally, I've opened a few positions in the projects that will be in attendance. As always, you can expect the news that is released to be hyped up by the community.
Comment:
Update BTC as it's forming a Head and Shoulders which will result in a drop in alts.
Check out my latest BTC chart.