Description
⋅ Qtum (QTUMBTC) is forming an ascending triangle, moving higher and higher each time it tries to break above resistance and fails.
Now trading above EMA10, which for us gives this pair bullish growth potential.
We can see a big volume bar showing up at the bottom.
The RSI is sitting at 51.8, which is bullish (we consider anything above 50 to be bullish, below bearish).
I've drawn two potential scenarios on the chart.
These are not the only possible scenarios but the main two in my own view.
There is also the chance for this triangle to breakdown and QTUMBTC move lower and go below stop-loss. If that happens, we close this trade at a loss.
Instead, if it grows and goes our way, we collect profits every day.
------------------
PAIR: Qtum (QTUMBTC)
BUY: 0.000385 – 0.000420
TARGET:
(1) 0.000480
(2) 0.000560
(3) 0.000595
(4) 0.000640
(5) 0.000766
(6) 0.000838
STOP: Close weekly below 0.000300
(Close daily below 0.000340, short-term).
------------------
Thanks a lot for reading.
Remember to hit like to show your support.
Namaste.
I think it will