Shot in the dark prediction for Qtum going off the data we've got, unless there a fundamentals at play, Qtum is so closely correlated to Bitcoin, you may as well watch the BTC chart. Green boxes are entry points I'm watching...I wouldn't enter now unless Bitcoin is bullish.
It's internally working its way up, trading in the channel (black trendlines), from what I see, its in the middle of its wave 4, before an impulse up to complete its wave 5. We see a reaction off the 50% to the tick, but it doesn't look strong enough to hold. I know there'll be a reaction at the 61.8% if we get there. A touch down at the 78.6% would require hard sell side pressure, and anywhere lower all bets are off.
At the moment im watching to see if we have an ending diagonal at play, but it does look bullish, as it is trending up, and it does look like its on its wave 4. So I WOULD NOT buy in yet, until I either reach my targets, or BTC makes a bullish move and QTUM decides to follow.
**NOT FINANCIAL ADVICE, JUST SHARING WHAT I'M SEEING**
Thanks
It's internally working its way up, trading in the channel (black trendlines), from what I see, its in the middle of its wave 4, before an impulse up to complete its wave 5. We see a reaction off the 50% to the tick, but it doesn't look strong enough to hold. I know there'll be a reaction at the 61.8% if we get there. A touch down at the 78.6% would require hard sell side pressure, and anywhere lower all bets are off.
At the moment im watching to see if we have an ending diagonal at play, but it does look bullish, as it is trending up, and it does look like its on its wave 4. So I WOULD NOT buy in yet, until I either reach my targets, or BTC makes a bullish move and QTUM decides to follow.
**NOT FINANCIAL ADVICE, JUST SHARING WHAT I'M SEEING**
Thanks