Qtum is currently inside a bearish trendchannel (yellow line) heading any may reaching soon the bottom of the main bullish trendchannel (green line).
Reasons why it should decrease down to 0.002BTC:
Reasons why it should bounce from trendchannel:
So in general, you can buy at pre-pump price but monitor the current price. Less than 10% towards my desired entry-point.
If you buy in now, you have to take the risk it might go lower an retest support but dont have to buy higher if it is not retesting bottom.
I like the project, skilled dev team. Perhaps little bit overhyped but solid coin.
Reasons why it should decrease down to 0.002BTC:
- MACD pointing down
- 4h closed below band (yellow marks)
- Volume is decreasing (short term)
- RSI pointing down (cannot show you RSI as a normal user can only show 3 indicators)
- BTC is pumping, people pulling out their BTC to sell them into fiat at the right time
Reasons why it should bounce from trendchannel:
- Increased compared to other dips
- RSI is oversold (cannot show you RSI as a normal user can only show 3 indicators)
- Volume is higher compared to last dip on the trendline
- A lot of good news came up
So in general, you can buy at pre-pump price but monitor the current price. Less than 10% towards my desired entry-point.
If you buy in now, you have to take the risk it might go lower an retest support but dont have to buy higher if it is not retesting bottom.
I like the project, skilled dev team. Perhaps little bit overhyped but solid coin.
Note
literally flew through the trendline, forming a new ATL, hitting the yellow downtrend channel and bounced off. So Uptrend is broken for now, new support as to be found
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.