QTUMUSDT shows strong uptrend reversalBINANCE:QTUMUSDT
After reached nearish top high at $3.69, QTUM entered a short correction ending up at Fib. 23.6% ($2.22).
QTUM has gained its bullish since the start of May 2019, drawn 4 consecutive green candles that gives strong uptrend on indicators, including:
+ RSI breaks downtrend resistance, as shown on chart. RSI is facing 50 value, which is a bull/bear frontier.
+ MACD is highly likely have a positive crossover on tomorrow, the histogram meets the zero line will get positive values.
+ CCI line pierces through the zero resistance, indicates new uptrend.
+ Bill William's Accumulator/Deaccumulator Oscillator ( AC ) turns positive 3 days ago.
Tomorrow will be a good day for QTUM, after it breaks some key resistance areas and enters active mode. The resistances and targets for QTUM in short-term are:
+ 1st target: Bollinger Bands (BB) mid-line and Fib. 50% at $2.6t they are key resistances (in term of bullish or bearish zone).
+ 2nd target: Fib. 61.8% and the Kijun-sen at $3.0, they are strong resistances.
+ 3rd target: BB upper line and Fib. 76.8 at around $3.2, they are weak resistances.
+ And last short-term target: Last peak at $3.6, a strong resistance.
Ideal buy zone and supportances for QTUM is $2.5 and $2.6, which are the MA200 and BB mid-line values.
Protective stop-loss for this trade should be placed at $2.3 and belows.
Trailing stop-loss should be place after at 3% below each target, after the targets be passed.
P/S: Scalp trading between the targets is also a good idea on this market, when BTC dominance is quite high.
