Profit taking to sub 100 levels then a surgeMulti Timeframe Analysis
Hint: QNT is outperforming BTC and reached 114USD as of this analysis from recent low of 90. Price will down to around 80-90, then commence going up to 150USD
The token behind the famed Overledger outperformed most of the crypto market and stats had been good:
1. Active wallet addresses increasing
2. Postive funding as per coinalyze
3. Increased sentiment
But markets don't move in straight upward lines. Harmonic Patterns have formed in confluence with strong volume profile indicators that point at a temporary drop below 100USD. From here, prices will soar.
I'm bullish on this coin long term and see it reaching 1000 to 7000 usd over the next five years.
Market order position upon the confluence of valid entry rules on the 4H or 1H chart.
-=ENTRY RULES=-
Trading philosophy: Don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace on the 38.2%, 50%, 61.8% or 78.6% fibonacci back in the direction of the master trend.
Note: I use Daily/4H or 4h/1H market structures with wave analysis to prep for potential entries. The RSI , MACD and EMA indictors are confirmation for entries at the 4H or 1H timeframe
For SHORT:
4H chart should confirm that the bullish retrace had turned bearish in the direction of master trend. The MACD should have dropped below zero signifying a bearish environment. Price would have dropped below the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is below the 50 signal line
For LONG:
4H chart should confirm that the bearish retrace had turned bullish in the direction of the master trend. The MACD should have gone above zero signifying a bullish environment. Price had gone above the 10 and 20 EMA . For good measure, check that the 4h and D1 RSI is above the 50 signal line
About me
I am not a financial advisor nor a signal provider. These are the opinions of a 20-year private trader in the legal profession as well as a businessman diversified in the tech and hospitality industries. My favored tools of the trade include wave analysis, price action on the 4H to Weekly timeframes and institutional order flow.
