Qtum (QTUM). We are still waiting for the market to turn. All altcoins are dependent on the King, Bitcoin, so Qtum is no exception.
Yet, some altcoins can go up and have their own moment, but the overall market condition will determine the general picture for all altcoins. Qtum is breaking out now, and several signals from my charts and indicators suggest that it might go on a run shortly. Let's take a look at these signals and see what's up with Qtum.
Qtum (QTUM) Long Term Trade by Alan Masters
CHARTS, SIGNALS & INDICATORS
Qtum is a very strong altcoin, one of the strongest by marketcap, and it can definitely be held long term which makes it a great choice for us. Let's start by looking at the long term chart. I am using Bittrex on Trading View since it has more data than Binance.
First, the long term chart (daily time frame - 24 hours per candle):
- The black dotted lines are support levels. Blue line is Qtum's last peak (aiming for this last peak gives us almost a 100% profits potential). Red lines are trend lines. - Let's start with the RSI (second indicator - middle). Notice that each time the RSI hits the oversold line, marked by a red dotted line plus green circles, Qtum goes up strong. We just hit this same oversold line and the price is bouncing up. - Notice the bullish divergence on the MACD (first indicator from top to bottom), marked by a thin green arrow. You can click on the chart to make it bigger. - The STOCH is also trending bullish, curving all the way up and showing plenty of room left for growth.
Let's take a closer look for our own learning and entertainment:
"TIME TO WAKE UP" is it Plato or something like that? You are a poet and philosopher.