QTUMUSDT trade ideas
Qtum - best scenario to buy🤯Qtum has shown very good growth recently. The chart now shows that the price has broken through the accumulation zone. If it tests the upper boundary as support, it could be a good buying point.
As an example, the recent accumulation, a break-up, a retest as support and an upside move.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
💡Don't miss the great buy opportunity in QTUMUSD @qtumTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (11.556).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. QTUMUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 13.764
TP2= @ 16.298
TP3= @ 18.691
TP4= @ 22.610
TP5= @ 26.527
SL= Break below S2
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💡Don't miss the great buy opportunity in QTUMUSDTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (11.556).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. QTUMUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 13.764
TP2= @ 16.298
TP3= @ 18.691
TP4= @ 22.610
TP5= @ 26.527
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex / Crypto trader ?
Now, It's your turn !
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
LONG QTUM/USDTQTUM looks good to buy here. Bouncing back from the lower trendline where we also have the 200 days moving average. Expecting a profit of 10% to 15%.
You can start accumulating from $9.86 to $10.31.
SL will be at $9.602
Target 10% to 15%.
Note: This ain't financial advice. I have done my own research and trading at my own risk. So, do your own research before taking this trade.
Like and comment.
QTUMWhat Is Qtum (QTUM)?
Qtum (pronounced ‘“quantum”) is a proof-of-stake (PoS) smart contract open-source blockchain platform and value transfer protocol. It aims to bring together the strengths of Bitcoin and Ethereum in one chain. Qtum is built on Bitcoin's UTXO transaction model, with the added functionality of smart contract execution and DApps. Recently, the platform added support for DeFi applications. As of March 2021, there are more than 20 tokens created on the Qtum blockchain.
To learn more about this project, check out our deep dive of Qtum.
The project was announced in March 2016 and held an ICO a year after, in March 2017, which brought its founders $15 million USD. The Qtum main chain was released on Sept.13, 2017. Initially, the Qtum coin was issued as a ETH-20 token, but with the launch of the mainnet, it was converted to native blockchain.
Qtum to 20 usd Qtum is an open sourced public blockchain platform, leveraging the security of UTXO while enabling multiple virtual machines including EVM and ARM VM. Qtum is PoS based and boasts a Decentralized Governance Protocol (DGP) allowing specific blockchain settings to be modified by making use of smart contracts. For instance, the block size of Qtum can be increased without the need of a hard fork.
Smart Contract
Proof of Stake
Value Transferring
QTUMIt has been stuck in the resistance area for the past 3 days
If it pass, will reach the target
Given the market climate and the shape of the Ichimoku cloud, I expect the resistance to break in the near future
And go to the specified target
If the market has a temporary decline, the best areas to buy are the yellow box
QTUMEntered late in the trend and was stopped out.
Eventually it played out as a falling wedge and gone the other way.
Original idea that the price was in excess and might go down for another leg to the lower support of fair value (bear trend channel) or at least control price, which is dotted line.
It might still do that, the mistake might be too tight stop/loss.
Might be better idea to enter smaller position with wide stop loss and manage accordingly meaning scale in higher, for example scale in on a double top if price actions shows a reversal.
QTUM/USDT Update: Explosive move directly to first TargetQTUM did break above the 7.5$ line and formed a consolidation bullflag which broke upwards as well.
We now reached the first target zone defined by 11-12.5$.
Looking at this strong move we expect some consolidation before we break into and through this target zone.
We closed some part of the position and did take partial profits.
Once we move above 12.5$ we maybe get back in for the ride to 25$.
Daily chart on the left hand side:
- We see a strong recovery which could take some more weeks according to the current price position and the recent ATH.
- There is a volume spike with a strong price move. --> We expect some cooldown.
- On the RSI side we passed the 70 line which is a warning flag that we go up very fast.
There could be some resistance on the RSI side was well as indicated by the orange line.
4h chart on the right hand side:
- We see a golden cross indicated by the yellow camera.
- The RSI is above 80 in the overbought. So be careful.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
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Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.