AndyTheKing
Long

QSP/BTC - 18 month accumulation (700%+ ROE)

BINANCE:QSPBTC   Quantstamp / Bitcoin
Despite the long, drawn out bleed of many altcoins on Binance - Quantstamp has continued to attract accumulators. This seems counter-intuitive given the declining price, however the OBV tells a different story. Ever since the week starting 26th March 2018, there have been buyers stepping in to (happily?) take ownership of the bags of disgruntled sellers. We can see multi-month OBV divergences taking place (the green lines) and also buying volume consistently exceeding selling volume . While I'm unable to find any upcoming news to serve as a potential catalyst for bullish price action, the 18 month accumulation we see tells a potent story.

Follow the money.

Reasons for the trade:
  • As mentioned above, 18 month accumulation. Weekly OBV is also above its 13 period MA.
  • At the POC - significant volume traded at this level.
  • Willy also above its 13 period MA (first time since the beginning of April)
  • Double bottom in price structure (see chart below)
  • Many VPVR gaps above that need filling. Massive gap highlighted by red love heart <3 above.
  • BTC dominance chart looking like it has topped out for now, allowing some breathing room for altcoins. Big week from all majors (ETH, XRP, ADA , TRX , LTC) usually leads to the beginning of bullish price action for mid-cap altcoins.

Note: The above is a weekly chart, this idea playing out will take a lot of patience!
Sep 21
Comment: My prediction for bullish price action is as follows. This would give an inverse head and shoulders pattern, launching us much higher.

December might be a great time for QSP hodlers. ;-)

QSP is one of those hidden gems, appreciate your sharp analysis!
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Great analysis!
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AndyTheKing Cryptonite_trader
@Cryptonite_trader, thanks mate!
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