$QTUM, Picket White Fence…
Weekly
Looking at our trend timeframe we see price continuing to respect our downtrend, stochastic rsi showing momentum in favor of bulls. Resistance found at 67000, QTUM now looking for a retest of 55700. Last time we were at this price we saw a spike from 55000 up t0 380000, will watch smaller timeframe for entry.
Daily
Shifting over to our pattern timeframe we see price has formed an inverse head and shoulder, stochastic rsi showing momentum is in favor of bears. Today’s candle opened at 60827 with a low of 60081. Price is currently retelling our inverse H&S for support, a daily close above 62500 activates our trade.
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