QTUM/BTC (Testing Key Level of Support)💎Technical Analysis Summary💎
BINANCE: QTUMBTC
-QTUM is now testing the key level of support
-This area is a confluence of previous resistance and support
-If QTUM can break above the trendline resistance
-It will give us a strong bias that the downtrend is over
-And we can see a potential test up to 2800s sat
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QTUMBNB
QTUM/BTC (Test the 2600 sat Area of Support?)QTUM/BTC
-The price is trading on a short term downtrend
-The key areas to be watching is around 2600 sat region
-This is a confluence of previous resistance turned support
-Chances of a strong bounce or building support around that region are high
-But before you enter a position, wait for any bullish reversal signs
-This will help you reduce the risk and add extra confirmation that the market will reverse
QTUM/BTC (Symmetrical Triangle?)QTUM/BTC
-We can see multiple Bullish rejections @ 200D MA on July 27 - Aug 2
-Currently, it is forming a symmetrical triangle
-Since May, the price has been in a short term uptrend to date
-If there will be a continuation of this pattern
-Chances of upside breakout are higher
-But I only recommend buying the breakout confirmation
-This still a symmetrical triangle, it can go either direction
-So waiting for the trendline break will increase your winning
QTUMBNB window presents opening as altseason wraps upBTC is starting to rally & the consolidation may lead to continuity but for now we're seeing the king retake it's place up on the throne where it belongs...its times like these, when more volume is swapped within a matter of minutes than you'll see during a matter of days-weeks in some bear runs with nonstop sideaways priceaction, where you have to be disciplined & take a breath.
Admittedly I should be taking my own advise; though I do often get ahead of myself. I usually don't bother making a publication as I have to monitor my portfolios in real time, but I spotted this one opening that I would be remiss not to share with ya'll as it is quite a good one if you can make your entry/exit in time; accordingly and contingent on the volume, priceaction, and overall market conditions leading to BTC juxtaposed to altcoins; pairings like this are much harder to spot especially when markets are in reversal/retracement.
With that being said:
TP1: 0.09745 (conservative)
TP2: 0.10503 (aggressive)
STOP : 0.09050
ITS CRUCIAL that you set STOP losses first & always during moments like this. However, given the huge volume surge; a great opportunity to snipe some extra BNB is present; it's up to you and ONLY you to make the decision whether or not you should seize it. The window is closing, though I would not make any rash decisions...just do your own TA & follow your own head/analysis, I'm simply here to point out the surge in volume & the candlestick projection analytics as presented by the charting above.
DISCLAIMER:
TRADE SAFELY! PLEASE DO HEED MY WARNING! MARKET VOLATILITY == HIGH!! DO NOT INVEST/RISK (same difference) A PENNY MORE THAN YOU CAN AFFORD TO LOSE! Don't be the idiot who mortgages his house or takes out a bunch of loans/credit cards to go allin FOMO on a bullrun. Trade with your head, not your gut; read my Linkdln article for more on that.
- @a1mTarabichi
A trading opportunity to buy in QTUMBNBTechnical analysis:
. QTUM/BINANCECOIN is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 51.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.39500 to 0.32470). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.39500)
Ending of entry zone (0.32470)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.48070
TP2= @ 0.54410
TP3= @ 0.67870
TP4= @ 0.79280
TP5= @ 0.92970
TP6= @ 1.02900
TP7= @ 1.20550
TP8= @ 1.38640
TP9= @ 1.64630
TP10= Free