While my initial projection was that of a butterfly pattern, it has been obvious that the approaching launch of the mainnet on Sep 13 will not allow it enough time to develop. More interestingly, however, is the Accumulation/distribution indicator showing a significant divergence against the price action. The OBV indicator (not on the chart) shows the exact same divergence which suggests there has been a very smart action on the buyers' side that kept the prices low and let them accumulate a significant amount of cheap QTUM. This is often a setup for a price spike, and is likely an accumulation in preparation for Sep 13. Watch out for the price break out 2-3 days before the mainnet launch and enter long when it happens.
Thoughts, please?
Comment
⋅
Not to mention the rising volume in the past few days. There has been a lot of selling and, consequently, a lot of buying.
Guys, the mainnet is completed. (Of course the swap hasn't been proceed yet as that will take weeks! There will be a LIVE AMA on the 13th regarding it.
twitter.com/QtumOfficial/status/906048386758918144
HumbleDumbell
⋅
@alexius89, That's exactly what it says. It is complete, but its launch is on Sep 13th. That's what the hype is building up towards.
@Infestinator, Yes, from what I know, it is ready, but the official launch is on the 13th. I believe there is going to be an announcement of some sort, as well. Hopefully something decent and well-planned to generate a bit more hype.
twitter.com/QtumOfficial/status/906048386758918144