On the 2H we could previously see a descending triangle.. Now we can see an ascending triangle.
QTM wil either break this pattern on top and move up (with fake break out on bottom or not). Or she breaks the pattern and we will have a bearish situation
We can see on the H4, that QTMBTC successfully landed on the support side after a successful rounded retest.
I've scribbled the general outline above.
A long here into previous support (around 5245) for a 15% gain would be a successful execution of this idea.
Stop below new found "support". Idea would be invalidated below this point.
Well, this is the continuation of the original publication about QTUM so i will not write to much here.
After studying the chart again, an AltShark can be identified inside the Cypher called yesterday.
So for this next QTM move Targets are specified in the Green Boxes.
If you like my ideas, please leave your comment, hit like and share it, i will be very...
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QTM is actually on a very important support level (fib retracement 23.6% and also a swing trend line).
This level has been tested several times and till now it has shown enough strength to hold the price.
But with falling momentum (nearly no volume), falling coin prices generally, a RSI in negative zone and perhaps crossing long trend line - the danger is high...
QTM jumped last weekend but fell back soon afterwards.
Still, it's trading within an upward channel. I would consider this a bullish accumulation phase.
In case of breakout, I expect at least the height of the range, roughly $80, as the first target. The crucial test would be $100. That will depend on the overall crypto market, I think.