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QTUM/USD bottoming.

By aheoro
Updated
We are at the crossroads of channel (A) and (D). Correction from last high bring us to that point where we suppose to see first reversal signal. I would not advise to enter trade at this point, but to see how it will finish current move. Most likely it will be a testing of support.
happy trading.
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snapshot
QTUM/USD is still in buyer and consolidation zone.Both channels create a triangle formation, and I consider that finishing of that pattern in any direction will give us a longterm signal. It will show us which channel is real.
Anything below 9.7$ is a good entry.
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snapshot
Rising channel has been confirmed and currently QTUM/USD holding above 0.618 fib. But, I see here forming rising wedge that will bring trades back to the bottom of the current channel. Only miracle can save us and we need to break Resistance (A) that formed by mid channel and previous tops. My advice to cut long position on the next test of A and resume only after it break out. Otherwise we will have good buy opportunity once wedge break down.
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Forming a triangle with strong support.
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snapshot
Be aware, it is dangerous spot to jump in. Wedge, if confirmed, can bang us back to 11$ range(where is good buy opportunity) But if it's breakout. Expect testing of top of the channel and new ATH.
with regards
bitfinexBTCQTUMUSDTrend Analysis
aheoro

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