QTUM gold mine
Updated
Greetings,
QTUM has been trading since 2017, on many top exchanges, you can trade both long and short. It was once in the Chinese ranking of the most promising projects. But personally I don't pay attention to the fundamental news at all, I only look at the chart.
Let's look at the weekly chart first, the price has decreased by 99% from the highs. For those who like to hold altcoins, a telling example, what it can lead your deposit to. I suggest to understand what has been happening over the last couple of years with this cryptocurrency.
The main trend of the instrument was descending, after the breakdown of the trendline in February 19, we can say that a sideways movement started and a horizontal channel was formed, with the price step about 60%. And we can see several attempts to break this channel.
At the moment there is another attempt to break through this channel, and the down-trend line. A break-up and confirmation of 4.3 would be a signal that the sideways trend is over and the bulls are here. Breakdown and confirmation of the lower boundary of the channel will be a signal to sell.
Let's go to the daily chart.
The price at the moment is at the resistance of the descending trend, and at the horizontal resistance zone of 3.5-4.3 from the weekly chart. The horizontal volumes also show that this is the boundary of the major volumes, over the last 2 years. On the weekly chart, the main horizontal volumes were in the range of 9-14$.
On the four hour chart you can see that the price has broken through the symmetrical triangle, and confirmed the support. I gave an entry point for this trade from the minimum values. After the triangle breakdown price made about 60%.
On the weekly chart to bitcoin, there is now a pullback after the breakdown of the trendline.
What are the conclusions and prospects.
For me this trading instrument is interesting and has good volatility, I think trading is clear to those who have at least some minimal experience. They don't have any advantages for beginners.
Always use a stop loss, and do not use a leverage higher than x3.
A trader should always have tomorrow.
If this information is useful, please like and subscribe, so as not to miss anything.
QTUM has been trading since 2017, on many top exchanges, you can trade both long and short. It was once in the Chinese ranking of the most promising projects. But personally I don't pay attention to the fundamental news at all, I only look at the chart.
Let's look at the weekly chart first, the price has decreased by 99% from the highs. For those who like to hold altcoins, a telling example, what it can lead your deposit to. I suggest to understand what has been happening over the last couple of years with this cryptocurrency.
The main trend of the instrument was descending, after the breakdown of the trendline in February 19, we can say that a sideways movement started and a horizontal channel was formed, with the price step about 60%. And we can see several attempts to break this channel.
At the moment there is another attempt to break through this channel, and the down-trend line. A break-up and confirmation of 4.3 would be a signal that the sideways trend is over and the bulls are here. Breakdown and confirmation of the lower boundary of the channel will be a signal to sell.
Let's go to the daily chart.
The price at the moment is at the resistance of the descending trend, and at the horizontal resistance zone of 3.5-4.3 from the weekly chart. The horizontal volumes also show that this is the boundary of the major volumes, over the last 2 years. On the weekly chart, the main horizontal volumes were in the range of 9-14$.
On the four hour chart you can see that the price has broken through the symmetrical triangle, and confirmed the support. I gave an entry point for this trade from the minimum values. After the triangle breakdown price made about 60%.
On the weekly chart to bitcoin, there is now a pullback after the breakdown of the trendline.
What are the conclusions and prospects.
For me this trading instrument is interesting and has good volatility, I think trading is clear to those who have at least some minimal experience. They don't have any advantages for beginners.
Always use a stop loss, and do not use a leverage higher than x3.
A trader should always have tomorrow.
If this information is useful, please like and subscribe, so as not to miss anything.
Note
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