I will be accumulating QTUM at around .0021-.00225 (yellow rectangle) . It has found some support at the .5 retracement level and the 7day moving average is curling up towards the 77. The RSI is steadily climbing, signalling confidence/continued buying activities. The MACD has a bullish crossover as well as showing a W formation (double bottom on MACD = Bullish?). The Squeeze momentum shows negative momentum is about to wrap up and we may see some positive momentum.
On top of all the indicators, I've drawn a descending wedge based off trend lines of recent highs and lows. If the formation can hold and a breakout happens around 3/7, then I estimate a 17-40% gain (purple rectangle) , a run up to the next resistance level of .0029-.003 (.786 retracement and big even/previous support).
On the downside, if QTUM breaks down from this wedge, we can see a test of the .382 level, .0019 and the big even .002 support lines. If these break through over the next few days, I will be looking to add on at around the .236 area highlighted in the yellow rectangle. That seems to be the last major support and if we break THAT, then QTUM has fully reversed back to the lows of early December. ( Which would warrant even more buying probably as I am bullish on the project/team in general).
*Disclaimer* This is not investment advice and this is for my own documentation purposes of my journey as an amateur crypto technical analyst :)
On top of all the indicators, I've drawn a descending wedge based off trend lines of recent highs and lows. If the formation can hold and a breakout happens around 3/7, then I estimate a 17-40% gain (purple rectangle) , a run up to the next resistance level of .0029-.003 (.786 retracement and big even/previous support).
On the downside, if QTUM breaks down from this wedge, we can see a test of the .382 level, .0019 and the big even .002 support lines. If these break through over the next few days, I will be looking to add on at around the .236 area highlighted in the yellow rectangle. That seems to be the last major support and if we break THAT, then QTUM has fully reversed back to the lows of early December. ( Which would warrant even more buying probably as I am bullish on the project/team in general).
*Disclaimer* This is not investment advice and this is for my own documentation purposes of my journey as an amateur crypto technical analyst :)