So QTUM has really defied my expectations in terms of price action for quite some time now. The platform is a hybrid of Ethereum and Bitcoin, and aims to offer the best of both worlds. Great idea in theory and they are attracting dAPPS from Ethereum already. The China FUD did it no favors, but they also missed the boat with announcements of exchanges that did not happen in the timeframe they claimed as well as the delayed token swap. Regardless of all this, the project is promising and I've bought dips. I am aware of one of the founder's potentially shaky history, but at this stage, I'm here to try and make some money by investing in projects with good potential. QTUM does seem to have potential at this stage.
From a chart perspective, I have not even looked at indicators, I'm mostly looking at trends here and how QTUM price action has progressed. After the initial strong run up, each peak has been progressively lower and each valley has as well. Recently that changed where we saw the support trend line reverse and begin to move upwards. Of course, Bitcoin disrupted that recently, but what I believe is important to note is that the bottom we had was higher than the previous bottom (purple arrows). Also, the volume during that sell off was not that great. This suggests that, despite the previous uptrend being broken, the overall uptrend is still intact. Hopefully, we will have further upside in the not to distant future.
Let's see...
From a chart perspective, I have not even looked at indicators, I'm mostly looking at trends here and how QTUM price action has progressed. After the initial strong run up, each peak has been progressively lower and each valley has as well. Recently that changed where we saw the support trend line reverse and begin to move upwards. Of course, Bitcoin disrupted that recently, but what I believe is important to note is that the bottom we had was higher than the previous bottom (purple arrows). Also, the volume during that sell off was not that great. This suggests that, despite the previous uptrend being broken, the overall uptrend is still intact. Hopefully, we will have further upside in the not to distant future.
Let's see...
Comment:
Bitcoin always has a way of making you rethink your projections.