In my previous analysis of QNT I outlined that a bear flag would force the coin to retract to point e. (read here www.tradingview.com/...tom-heavy-liquidity/). It's coming to a point where the flag will be tested at e.
If QNT closes below it's 50MA and closes again below the lower low trend line I see two potential outcomes. It retraces back down to c. which I'm calling accumulation zone 1, or it retraces all the way back down to a. which I'm calling accumulation zone 2.
It's unclear which is more likely - into the block shows a lot of liquidity at both points c. and a. but the first test will be to see if QNT break below the 50MA and the bear flag at e. I will track the update on this coin via this new chart.
At this point in time my sentiment is short on QNT. I have an alert triggered for 145$ to review the breakpoint at e.
If QNT closes below it's 50MA and closes again below the lower low trend line I see two potential outcomes. It retraces back down to c. which I'm calling accumulation zone 1, or it retraces all the way back down to a. which I'm calling accumulation zone 2.
It's unclear which is more likely - into the block shows a lot of liquidity at both points c. and a. but the first test will be to see if QNT break below the 50MA and the bear flag at e. I will track the update on this coin via this new chart.
At this point in time my sentiment is short on QNT. I have an alert triggered for 145$ to review the breakpoint at e.
Comment:
QNT is making it's way to accumulation zone 1 - obviously helped along with the recent $FTT meltdown. I will update once QNT touches down so we can assess if it will hold or continue to drop.
Comment:
we've not yet reached landing zone 1 - but QNT is making good headway towards it. Will continue checking until there is something more significant to report on