QTUMBTC is bouncing off the 0.382 Fib. retracement level relative to the bullish move that started 13-June, this is a positive development.
Retraces on impulses can normally end at the 0.618, 0.5 or 0.382 fib. levels.
If the market is weak, we can see the retrace reach as far down as 0.786 fib.
If the market is set to grow strong, then the retrace can be short.
We are seeing a nice bounce right after the first important fib. retracement level was hit.
After confirmation (when the daily candle closes above EMA10/0.0001405), we can expect a higher high to hit around 0.0001983. (That's a jump of about 39%)
More targets/resistance levels and details on the chart.
Everything seems to be fine. I agree with the idea, but several factors are still keeping me from the asset deal. Thanks for the idea! I wish everyone who takes the risk a profitable trade)