QTUM, currently sitting on support offers nice gains perspectives.
Symetric triangle broke on the uptrend, but it seems so far it was a false break. We can expect further decline, or a bounce back to uptrend.
Entry levels are shown in the graph. 9/13 is an important date for QTUM that could lead to new highs.
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QTUM 1H STOCH RSI is turning around, expecting a retrace to at least the first support. Might form a cup if it pushes up a little more, then we might be looking at a possible handle.
QTUM is consolidating around historic a historically strong support level. MACD looks like it will cross over in the next couple of cycles. RSI is in the oversold area. Bands are tightening up. With their Main Net releasing in a week on 9-13, I would expect some positive price action leading up to it.
While my initial projection was that of a butterfly pattern, it has been obvious that the approaching launch of the mainnet on Sep 13 will not allow it enough time to develop. More interestingly, however, is the Accumulation/distribution indicator showing a significant divergence against the price action. The OBV indicator (not on the chart) shows the exact same...
Qtum made double bottom pattern and soon it will break downtrend line and go up till second fib level. Prediction is approximately for 2 days. MACD indicator lines are slowly changing their position. Gonna wait for result )
May be price will go down till 0.002362 support line.
Shown above is price action movement to the downside. A major support lies in the 0.0024 BTC neighborhood. MACD has crossed the 0 line and volume could pick up around this major support. Keep an eye out for this one to potentially bounce off of this support band.
September is a big month for QTUM. While I still believe BTC is following it's Elliott wave and will hit 3200-3400, I think QTUM still has a chance to make big gains due to it's recent patterns and huge news surrounding it. It's about to exit the triangle, possibly by tomorrow morning (if you are in the US). This could be a good start for the beginning of an uptrend.
QTUM is shaping what seems to be a butterfly pattern that is supported not only by the fib ratios but also the RSI and Stoch RSI swings.
With the release of the mainnet and a Shanghai conference on Sep 13, there is a good chance the price will soar, which also means there is likely not enough time for the price to retrace to the target point of D. That said, the...
QTUM looks to be on a trend reversal after massive selloff from China regulator news. Volume is looking strong and trending upwards. The higher time frames have all reset and are at the oversold levels and the volume is picking up. We may see a push to 290k sats or better with enough momentum. I expect bag holders to trigger sell orders close to 280 - 290k
It's very simple. If it breaks the white line....who the hell knows where it'll go (I'm kidding if it does i'll find its support). So far so good, it's following. We have a steady uptrend people. Long live the QTUM!
