Batrachotoxin
Long

QTUMUSDT shows strong uptrend reversal

BINANCE:QTUMUSDT   Qtum / TetherUS
BINANCE:QTUMUSDT

After reached nearish top high at $3.69, QTUM entered a short correction ending up at Fib. 23.6% ($2.22).

QTUM has gained its bullish since the start of May 2019, drawn 4 consecutive green candles that gives strong uptrend on indicators, including:
+ RSI breaks downtrend resistance, as shown on chart. RSI is facing 50 value, which is a bull/bear frontier.
+ MACD is highly likely have a positive crossover on tomorrow, the histogram meets the zero line will get positive values.
+ CCI line pierces through the zero resistance, indicates new uptrend.
+ Bill William's Accumulator/Deaccumulator Oscillator ( AC ) turns positive 3 days ago.

Tomorrow will be a good day for QTUM, after it breaks some key resistance areas and enters active mode. The resistances and targets for QTUM in short-term are:
+ 1st target: Bollinger Bands (BB) mid-line and Fib. 50% at $2.6t they are key resistances (in term of bullish or bearish zone).
+ 2nd target: Fib. 61.8% and the Kijun-sen at $3.0, they are strong resistances.
+ 3rd target: BB upper line and Fib. 76.8 at around $3.2, they are weak resistances.
+ And last short-term target: Last peak at $3.6, a strong resistance.

Ideal buy zone and supportances for QTUM is $2.5 and $2.6, which are the MA200 and BB mid-line values.
Protective stop-loss for this trade should be placed at $2.3 and belows.
Trailing stop-loss should be place after at 3% below each target, after the targets be passed.

P/S: Scalp trading between the targets is also a good idea on this market, when BTC dominance is quite high.
Trade closed manually: QTUM falls to below buy zone but keeps ranging above stop-loss.
Due to BTC dominance pump to above 60%, which is a dangerous zone for altcoin market, for safety I recommend to close this trade with small loss.
QTUM has huge change to dump hard with the next correction of BTC. Closing this trade at this time would reduce the risk for your capital.
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