QLC is looking very juicy right now, we can easily deduce that the white region of this current move is a major support for this altcoins. That's why it is become one of the most stable coins during current indecision of bitcoin's price. When I write this analysis, QLC is one of some coins which has 3% gain comparing the previous days.
Now looking at the 4 hours chart, I draw 2 resistance trend line which has 2 different perspective.
- The first trend line is the white trend line, I use the wick to body connecting method. Based on this current analysis, the price has broken out and now it is retesting again this line which act as a support trend line
- The second trend line is the light blue trend line, I use body to body connecting method on 4 hours chart. Based on this current analysis, the price is moving inside of the descending triangle and hasn't shown any sign od breaking out yet.
Because of current bitcoin's movement which has a huge bearish pressure right now, I choose to wait more confirmation until the price break out of the light blue trend line. green zone is my first target.
For more detail analysis, watch our video analysis on youtube one point trading.
Now looking at the 4 hours chart, I draw 2 resistance trend line which has 2 different perspective.
- The first trend line is the white trend line, I use the wick to body connecting method. Based on this current analysis, the price has broken out and now it is retesting again this line which act as a support trend line
- The second trend line is the light blue trend line, I use body to body connecting method on 4 hours chart. Based on this current analysis, the price is moving inside of the descending triangle and hasn't shown any sign od breaking out yet.
Because of current bitcoin's movement which has a huge bearish pressure right now, I choose to wait more confirmation until the price break out of the light blue trend line. green zone is my first target.
For more detail analysis, watch our video analysis on youtube one point trading.