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.
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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.
