So qtum's biggest move of 2017 came when the RSI absolutely hit rock bottom. An abysmal low 13 on the 4 hour and 16 on the daily.
Ouch.
Fortune favors the brave, however, and QTUM rocketed to new highs.
what can we learn from this?
1) don't buy until it REALLY hits bottom. i don't care if you haven't seen a daily RSI below 18 before. get ready to see one.
2) there is no guarantee this one will trigger a bull run. the fundamental difference between the previous bottom out and this one is that in the first option, btc was in a parabolic up move. Right now it is trending downward and so the sell off in QTUM, like all the alts, is a sign that buyers and even holders have left the building. Instead of buy and hold, be prepared for buy and sell 15-30% profit.
3) QTUM is making HUGE partners in china. new fundamental developments could trigger a legitimate bull run.
looking very bullish...buy when btc continues uptrend and qtum breaks out
whoisthelorax
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one thing i would consider is that should BTC reverse, we would have an interesting situation. confidence should return and that means jane and J. Q. Hodler will return.
I'd say "confidence" won't return until we see multiple TA bears capitulate to bull. stevepuri will never capitulate.
whoisthelorax
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the dilemma, of course, is that when btc is going up, alts tend to go down (at least in btc price). how much lower can QTUM go?
My best guess in this scenario is we get a weak multi day bounce, but in the wake of a resurgent BTC, QTUM could easily retrace this entire move.