So I wanted to do a nice write up on QTUM and why I like it for long term, but it's late and I'm tired so I'll just do this technical part and then I'll come back with a fresh chart another time. I'll just say that I like the idea behind the tech, which is to combine BTC transaction security with ETH smart contracts. Do note, that I have recently discovered there are question marks about one of the founders, so do some homework. I'm in the process of reassessing whether or not this will be a short or long term move for me.
So for this chart, QTUM actually broke down further than I had anticipated. That being said, it still is not something unusual when you look at the fact that it has now touched support on the primary trend line. If it breaks through this support, it should continue downward. If it breaks out, then we could see a fresh move upward after a nice correction. Note, that they are supposed to launch their mainnet sometime in September, so if you are interested, I suggest reading up and look into the team as well so you are sure you are comfortable.
Trade closed: stop reached:
Stopped out.