I've been watching QTUMBTC since the Amazon China partnership, which is indeed real as far as I know. If this had happened during last year's bull run, it would have spurred an instant 100-300%.
www.coindesk.com/ama...ing-blockchain-qtum/
It has struggled since to get out of this accumulation range, but it has HUGE upside potential and thought it had a good risk/reward ratio, so I took some of my BAT profits and entered a small position a little below 600 satoshis. We COULD form a big compound inverse head and shoulders soon (shown in red on my chart). This is an interesting hybrid BTC/ETH coin with some long term potential, although some interest has really dropped off lately. Currently flying under the radar, which is what I like! It is well off from its all time high both in BTC value and in USD value. It reached $80 during the bull run, so it could easily 20x from here if BTC returns and the coin sees some more use. We'll see what happens!
BUY:
586-620 Ideal entry (I bought around 595)
620-650
STOP below 586 or the light blue trend line on my chart.
SELL TARGETS:
800 First target
1000 2nd Target May take some profit here.
1500+ I will definitely take some profit here, hoping it makes it. I'm looking for this to be a low risk-high reward trade. We need more volume though.
4000+ all time high
This is not financial advice, nor am I a qualified financial advisor. I'm posting this chart so you can follow along with my trade (and for my own personal growth and trading education).
-Victor Cobra
www.coindesk.com/ama...ing-blockchain-qtum/
It has struggled since to get out of this accumulation range, but it has HUGE upside potential and thought it had a good risk/reward ratio, so I took some of my BAT profits and entered a small position a little below 600 satoshis. We COULD form a big compound inverse head and shoulders soon (shown in red on my chart). This is an interesting hybrid BTC/ETH coin with some long term potential, although some interest has really dropped off lately. Currently flying under the radar, which is what I like! It is well off from its all time high both in BTC value and in USD value. It reached $80 during the bull run, so it could easily 20x from here if BTC returns and the coin sees some more use. We'll see what happens!
BUY:
586-620 Ideal entry (I bought around 595)
620-650
STOP below 586 or the light blue trend line on my chart.
SELL TARGETS:
800 First target
1000 2nd Target May take some profit here.
1500+ I will definitely take some profit here, hoping it makes it. I'm looking for this to be a low risk-high reward trade. We need more volume though.
4000+ all time high
This is not financial advice, nor am I a qualified financial advisor. I'm posting this chart so you can follow along with my trade (and for my own personal growth and trading education).
-Victor Cobra
Comment:
Looks like we fell out of the uptrend. Support is at 586. If we want to go up from here, we'd need to get back up past 612 pretty soon. I may close my position and look for profit elsewhere if this continues to look weak.
Comment:
The curved support seems to have not held, so we might want to look at linear support. There is another support line that extends from the bottom. In order to avoid sliding down there, we need to push up very soon.
Trade closed manually:
Looks weak for now. Could be wrong, but looks like it needs more consolidation. May re-enter if things change. For now, looking towards other coins for trading.
Comment:
Looks like it managed to barely get back into the uptrend! The market looks strong right now. I'm still out of this coin though. Don't want to over trade and I'm trying to consolidate into fewer coins anyway. This could be a good spot to enter, though it may just drop out of the channel again.
Comment:
Really needs to close ABOVE the blue line, and right now it's barely hanging on. If it gets up to the orange resistance around 625, there's a chance it could pop.
Comment:
Going up now, if it breaks 630 it should move up further.
Trade active:
Bought at 650 after taking some small profit from XRP and XLM
Order cancelled:
Nevermind, fake breakout for now. Might buy if we decisively breach 662. We just got rejected there pretty hard.
Comment:
Will stop updating this chart for now, since I'm having trouble concentrating on a bunch of things at once. The market volatility seems to be back a bit and I might want to narrow my focus. This trade still provides a decent opportunity to ride this thing all the way up from bottom. If we don't fall back and stay above 630 (really 635), then this thing may break up soon, once and for all.
Comment:
For anyone who is still following QTUM, it's remarkably holding up well at my blue trend line:
Comment:
Still not in this coin, but here's an update anyway. We fell out of the channel and are now looking to visit that slow-moving diagonal support at some point in the future. However, 600 is starting to look like pretty strong support for now. Just bounced off that. This coin really needs to sustain above 662 to confirm any sort of breakout.
Comment:
Looks like it's headed back towards the 586-590 support area.
Comment:
Looks like we're back at that 586 support. Unfortunately, it doesn't look like it's holding super well. We need to see a bounce off this trend line VERY SOON. Otherwise, QTUM will likely be sideways and down for quite a while.
Comment:
Comment:
Broke support, along with most other altcoins. QTUM looks particularly weak though. Would not go long until break of that 662 resistance. Dead for now, and very little buying interest. If the bull comes back at the end of the year, it might surprise us with a monstrous rise.