Potential breakout to next resistance level (about 20% gain)
Disclaimer: I am not a professional trader and this is not financial advice, just an idea of what I see. I am currently simply trying to get in the game, learn and only bet very tiny amounts (10$ per trade). I am not a day trader, I'm looking for opportunities on longer time frames ( daily charts ). I also use only very simple indicators like moving averages.
What I see on the chart:
A beautiful cup and handle has formed as we seemingly bottomed around 1800 satoshis and formed a support around 2300 satoshis.
There's also a triple bottom near the support level. The 3rd one of which sent QTUM up 50% in the course of 3 days. It however got rejected from the resistance level between 2500 and 2700 satoshis.
At this point it formed a nice short term support, forming the cup's handle. I would expect QTUM to break through the current resistance and test the 3100 satoshi waters within the next few days. This would most likely send the price crossing the 200 daily MA, so expect some resistance to happen as we move higher.
Entry: now around the 2500 satoshi mark with a stop-loss: around 2200 satoshis. Or you can also wait to see if QTUM confirms its move by closing above the resistance level or wait to see if it retests and bounces off the short time support and enter around the 2300 satoshi mark.
What I see on the chart:
A beautiful cup and handle has formed as we seemingly bottomed around 1800 satoshis and formed a support around 2300 satoshis.
There's also a triple bottom near the support level. The 3rd one of which sent QTUM up 50% in the course of 3 days. It however got rejected from the resistance level between 2500 and 2700 satoshis.
At this point it formed a nice short term support, forming the cup's handle. I would expect QTUM to break through the current resistance and test the 3100 satoshi waters within the next few days. This would most likely send the price crossing the 200 daily MA, so expect some resistance to happen as we move higher.
Entry: now around the 2500 satoshi mark with a stop-loss: around 2200 satoshis. Or you can also wait to see if QTUM confirms its move by closing above the resistance level or wait to see if it retests and bounces off the short time support and enter around the 2300 satoshi mark.