QNTUSD trade ideas
QNT on verge of a breakout? short term bullishkey indicators are very bullish today on QNT ,Look for it to break out of its current tgrading sideway pattern 3 straight candles on the four hour charts,would say break out is iminent soon.If BTC keeps is upwards posture we could see break towards technical targets of 175-200 range then hit rejection an bounce back down to moving averages. Keep an eye open today for this to happen.If not then a reversal is still possible to a double bottom around $150-157 price action.?
QNT holding 172 & wants to breakout Down channelQNT has been strongly staying above 172 the midpoint of the green trading range box.
Bearish scenario: if 172 breaks down & QNT enters the red warning box. Then a double bottom is possible at the red rectangle base 138-152 zone.
Bullish scenario: If QNT breaks above the green box around 200 level which should confirm the end of the abc correction & a new wave 1 will start.
Money Flow Index is still red but Wolfpack is green & Stoich Rsi is turning up.
QNT in correction mode 1/We see trend indicators a drop in price action an will likely see a double bottom test of 173/172 price action in short term,We are still in target of the target of 250+ range medium term an long range of a 5X target price in this project .Retail is getting bullied by whales price action activity an everything should be good over longer term.
QNT will soon begin a new cycle after completing ABC downAfter a 72% crash from Sept 2021, I think the Elliott wave ABC corrective phase has already completed.& a new 5 wave cycle may soon start after current accumulation box.(pink box).
QNT is trying very hard to close a daily candle above 187 for several days.
Aggressive entry is to wait for breakout above 187, then 197.
Conservative entry is to hope for a retracement to 172 w/c should offer a much better risk to reward ratio.
This is only my personal analysis & not financial advice.
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#Quant #QNT at huge volume profile level - a coin with scarcityQuant at huge volume profile level - a coin with scarcity.
Hard to guess the direction in short-term... the ascending trendline may break the more often it is tested.
For a (re-)entry into the market a confirmed breakout of the red price trendline should at least be waited for.
What do you think? 😎
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*no financial advice
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