Welcome back to our QTUM analysis Series
In our first analysis, we pointed out buying zones for a potential bottom as shown in the chart below
A month later we updated that idea after a few buyng zones were met
Now in this analysis, we are analyzing afresh, with a different view.
In our two previous analysis, we drew 2 trendlines that price continued to respect, as shown below
Now resting the last trend support which was created when the overall impulse move was initiated, we can see that we are currently in a channel, one which has a target of at least $80-100 dollars depending on how soon we test resistance again, and aligns with our 5th wave top coming in at the 1.382-1.618 fib resistance eventually.
Previous ideas are linked below.
Added in another trendline running across the chart for a potential rejection and a take-profit zone. That way, we can have the growth of wave 5 and 1 almost equal or closely related if we don't get $80, even though it would still technically be shorter than wave 3
Should Bitcoin decide this isn't it's bottom and take another dive, we will most likely retest the $4 support before a move to the upside.
If you agree with this, pls leave a like and your thoughts in the comments section.
As always, feedback is appreciated.
In our first analysis, we pointed out buying zones for a potential bottom as shown in the chart below
A month later we updated that idea after a few buyng zones were met
Now in this analysis, we are analyzing afresh, with a different view.
In our two previous analysis, we drew 2 trendlines that price continued to respect, as shown below
Now resting the last trend support which was created when the overall impulse move was initiated, we can see that we are currently in a channel, one which has a target of at least $80-100 dollars depending on how soon we test resistance again, and aligns with our 5th wave top coming in at the 1.382-1.618 fib resistance eventually.
Previous ideas are linked below.
Added in another trendline running across the chart for a potential rejection and a take-profit zone. That way, we can have the growth of wave 5 and 1 almost equal or closely related if we don't get $80, even though it would still technically be shorter than wave 3
Should Bitcoin decide this isn't it's bottom and take another dive, we will most likely retest the $4 support before a move to the upside.
If you agree with this, pls leave a like and your thoughts in the comments section.
As always, feedback is appreciated.
Trade closed: stop reached:
Just realized i got stopped out of QTUM.
Next area of interest as stated before will be the $4.4 dollar level.
High chance the wave count on this gets invalidated but lets see how it goes.
Next area of interest as stated before will be the $4.4 dollar level.
High chance the wave count on this gets invalidated but lets see how it goes.
