ForecastCity_ME

💡Don't miss the great buy opportunity in QTUMBTC

Long
BITTREX:QTUMBTC   Qtum / Bitcoin
Midterm forecast:
While the price is above the support 0.00006278 , beginning of uptrend is expected.
We make sure when the resistance at 0.00015500 breaks.
If the support at 0.00006278 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:
There is a divergence in RSI and price between the trough at 0.00012217 on 2020-11-06 and the trough at 0.00006340 on 2021-01-03, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 0.00006278 on 01 /03/2021, so more gains to resistance(s) 0.00013020 and maximum to Major Resistance (0.00015500) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 63.

Trading suggestion:
There is possibility of temporary retracement to suggested Buy Zone (0.00009435 to 0.00008161). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

. Beginning of entry zone (0.00009435 )
. Ending of entry zone (0.00008161)

Take Profits:
TP1 @ 0.00013020
TP2 @ 0.00015500
TP3 @ 0.00021100
TP4 @ 0.00025700
TP5 @ 0.00030300
TP6 @ 0.00035310
TP7 @ 0.00043750
TP8 @ 0.00071895
TP9 @ 0.00119043
TP10 => Free

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Comments

I agree with it being long. But perhaps would not go further than TP2 for now. Very nice chart though
+1 Reply
ForecastCity_ME davidgolandak
@davidgolandak, Thanks for sharing your feedback. all the best 🌹
Reply
bb :)
Reply