QTUM has entered an ascending triangle formation, with a horizontal roof right on the 235 SMA. This formation is usually a continuation signal of a bullish trend, however the moving averages don't look ready, especially with resistance being on the 235. If the triangle supports another bounce, then a buy order could be set at the breakout at ~0.0029, with a stop at ~0.00274, for a 20% target below previous resistance at ~0.00348. However, if it does break then caution should be taken on the fundamental side - since China is likely to announce new cryptocurrency regulations next week, which could be likely to interrupt this breakout run.
Commentaire:
Triangle has been broken, longer term we are still out of a descending wedge. Could see a bounce on the 77 SMA after the mainnet token swap
Commentaire:
QTUM is now holding in a larger ascending triangle, previously advised long position should be enacted if upper resistance at the 235 SMA is broken.
Commentaire:
Break of secondary triangle, looking for bounce on 77 SMA