QTUM/BTC Trade IdeaQTUM is looking like starting the second elliot wave pattern. It's currently trying to break a resistance line, and if it can break that resistance it could shape up to be a great long opportunity. It has bounced off the support line 3 times and used it as resistance once so I'm quite confident that if it fails to break resistance, it wont fall much further. In saying that however it does appear that we could potentially see a head and shoulders pattern emerge which could send it back to the floor so be careful of that. If price does end up breaking, look for it to push for an ATH before retracing. From there I could see it breaking the ATH and mooning. If that happens then we could see massive gains as it would almost be confirmed that it was in the second elliot wave leg phase.
If it hits the buy area and confirms to stay above it, the look to set stop loss just below the current resistance line.
If it falls back to support look to enter once it has bounced and set stops accordingly
QTUMBTC
QTUM BTC Soon to make a decisionHi,
This is the first chart I've ever (really) done after learning so much recently. I'M NO EXPERT.
I submit this in the hopes of getting constructive commentary, discussion, fun and an opportunity to learn.
I would love some of the prominent Crypto chArtists here to give pointers, and especially illuminate flaws, mistakes and presumptions.
PROS
QTUM has had a lot of hype lately and has been called a direct competitor with NEO.
Both have been very bullish.
Both have stalled a bit with BTC's meteoric rise... BTC currently 43300.02 as I write this and ATH.
QTUM has less history to base technicals on.
Shape closely parallels NEO in earlier rallies.
I PREDICT people hoarding and hodling NEO due to NEO coins, which means less to trade. I'm still bullish NEO.
CONS
QTUM is younger and weaker than NEO
I don't know if it will generate the kind of residuals as NEO
QTUM completed an almost perfect head and shoulders formation at 7:30 am PDT August 14
ITS DECISION TIME FOR QTUM -
QUESTIONS
If BTC re-traces, (and it has to) will that encourage QTUM to rise again?
What is the time limit for that to happen before QTUM breaks down?
Thanks for your time and attention.
johann
Quantum Leap Week!Quantum is another new coin with very limited supply (100 million - always good to look at that!). It's just begun it's quantum leaps through our Elliot wave cycle. It probably won't be able to fix our past, but it should make us richer in the future.
Target 1 - .008
Target 2 - .01 to .012
Enjoy!
