Hey dear patrons, hope you are well and welcome to the new update on QTUM coin.
On the weekly time frame chart, the price action of Qtum has formed a bullish Cypher pattern. There is also 25 simple moving average additional support in the buying zone and the 50 simple moving average below the buying zone.
Buy and sell targets:
Buy between: $12.25 to $7.71
Sell between: $15.83 to $24.41
Stop loss:
The maximum extent of the potential reversal zone $7.71 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 200%, and the big loss possibility is 38%, therefore in order to minimize the loss we can also use the 25 SMA for this purpose.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
On the weekly time frame chart, the price action of Qtum has formed a bullish Cypher pattern. There is also 25 simple moving average additional support in the buying zone and the 50 simple moving average below the buying zone.
Buy and sell targets:
Buy between: $12.25 to $7.71
Sell between: $15.83 to $24.41
Stop loss:
The maximum extent of the potential reversal zone $7.71 can be used as stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 200%, and the big loss possibility is 38%, therefore in order to minimize the loss we can also use the 25 SMA for this purpose.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.