QTUM/USDT Update: Targets reached. What's next?
Qtum had great news over the last week like partnering with Travala, launching a venture captial group in Sweden and the hard fork on April 30.
That's why all our targets were reached and we did take at least partial profit.
Now we see a retracement from a spike and are likely to see some support around 22-23$ which was the last resistance line.
It also falls together with the 0.5Fib and a bullish rejection there indicates more upside movement.
Looking at the all time charts we see that 60$ is still a previous ATH as well as 100$ for spiketrading.
Currently we expect some consolidation before the next leg up.
But the ground layer is set and Qtum can look into a bright future.
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.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
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.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
That's why all our targets were reached and we did take at least partial profit.
Now we see a retracement from a spike and are likely to see some support around 22-23$ which was the last resistance line.
It also falls together with the 0.5Fib and a bullish rejection there indicates more upside movement.
Looking at the all time charts we see that 60$ is still a previous ATH as well as 100$ for spiketrading.
Currently we expect some consolidation before the next leg up.
But the ground layer is set and Qtum can look into a bright future.
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.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
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.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
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