QTUM is showing signs of another possible break out. After the huge outbreak we had a couple days ago, it is looking like we are consolidating into a downward flag. Even though this is a BIG indicator of upward breakout, I see this going two ways once the consolidation hits POINT 1:
A) If we see another massive BTC 7.49% run that last for multiple days, QTUM will break out below the support line. We'll see a reset down to the support at .0012 and wait to see if another pattern forms.
B) If this BTC 7.49% breakout only last for a few days and we see consolidation in the BTC 7.49% price, QTUM will break out above the resistance line. Look to take profits at .0018 (POINT 2) and .0021 (POINT 3) depending on how the price reacts to the resistance at .0018.
Cheers.
A) If we see another massive BTC 7.49% run that last for multiple days, QTUM will break out below the support line. We'll see a reset down to the support at .0012 and wait to see if another pattern forms.
B) If this BTC 7.49% breakout only last for a few days and we see consolidation in the BTC 7.49% price, QTUM will break out above the resistance line. Look to take profits at .0018 (POINT 2) and .0021 (POINT 3) depending on how the price reacts to the resistance at .0018.
Cheers.
Trade closed: target reached:
After a short BTC run, QTUM was able to consolidate and experienced another huge break out. We were able to hit the .0021 BTC profit target and should see some type of consolidation at this point. With the momentum QTUM has had in the last week, I don't expect the price to stay at this level for long though. Now its just time to wait for another consolidation and (hopefully) another breakout.