In this time frame, Qinet is moving in the orbit of a downward trend line, and after hitting the support area of $1523 and being rejected several times, it entered the correction phase and formed a BEARISH FLAG pattern which is a kind of continuing pattern and we expect it to continue its downward trend and if the support range of $1523 is broken, we will see a further drop to the range of $1368.
But if the volume of purchases in the market is such that the price can cross the resistance range of the trend line with a few valid candles and stabilize itself in the range of 0.5 Fibonacci, we will see a change in the trend and the price will rise to the resistance range of $1878.
Support range: 1366 - 1461 - 1523
Resistance range: 1700-1809-1879
But if the volume of purchases in the market is such that the price can cross the resistance range of the trend line with a few valid candles and stabilize itself in the range of 0.5 Fibonacci, we will see a change in the trend and the price will rise to the resistance range of $1878.
Support range: 1366 - 1461 - 1523
Resistance range: 1700-1809-1879