Quant network has recently broken out of a range and tested above two key resistance areas as shown on the chart. It looks to be turning a key weekly level into support. We have a buy signal using UCTS indicator on all time frames. And...for the first time in it's history it has flipped buy on a 1 week time frame. This is very bullish. There is not much sell pressure until we test up to the red box on the chart in my opinion. Then we may see a retrace.
I don't publish this chart for those looking for a swing trade. I am personally more interested in taking a position in QNT for a mid term to long term trade opportunity. If we are able to maintain support above key weekly level on chart we should see prices breaking all time high this year in BTC and US dollar terms. I am very bullish on this project!
do you see a reversal diamond on the 1hour charts? im also very bullish on quant their fundamentals but its still trading, and a reversal diamond indicates a 'reversal' maybe pushing us back 20-30%
thx for ur chart
TANic
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@Daljohn, I usually don't look at lower time frames like the 1 hr as I'm in a position that I won't trade for weeks to months. That being said I do think a short term pull back is probable. We had a nice run up from the lows
and so far holding the 69k area as support. If we lose that support then yes we could retrace like you said. Thanks for sharing your idea and your comments. Good luck out there!
thx for ur chart