Qckbtc
QCK/BTC in a falling wedge with bullish divergence showing. QCK/BTC has been within a falling wedge formation for the last few weeks. As you can see, we had a nice run to to about 1100 sat's, and have been moving down steadily since then. However, we are now seeing a falling wedge (bullish reversal pattern) and bullish divergence on the 4-hour RSI and 4-hour Stochastic as we near the .5 fib level around 705. We can see the 4-hour RSI seems to be forming an ascending triangle as well. Overall, lots of indicators are pointing to a bullish reversal. If the .5 fib level breaks, we could see it move down further to the .382 fib level around 610. However, in my opinion, I think we will see a move up to either the .618 fib level around 800, or up to the .786 fib level around 940. We have the 4-hour EMA's which will act as resistance, but if the bullish reversal plays out, we should be able to get above those rather quickly. Overall, this is a good risk/reward trade.
Entry: 705-725 (around the .5 fib level.)
Target 1: 800 (.618 fib level.)
Target 2: 940 (.786 fib level.)
Target 3: 1100 (1 fib level.)
Stop-loss: 660-680.
--This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility.
Shoutout to cervantescerville for sending me his analysis on this one and telling me to check it out myself!
